How to Learn About Business Tax Deductions

• Step 1

  Create a single storage file to consolidate, copy or otherwise add the data you find. Taxes are too complex a topic to trust to memory or disorganization. Create a list of questions specific to your circumstances to focus your learning and guide your information search.

• Step 2

  Read the IRS tax tables and printed guides, available online. If you have no printer available, these forms are also free at many libraries and most post offices. In some cases, librarians can answer questions about forms and tables that are appropriate for you.

• Step 3

  Study IRS or federal government-sponsored websites regarding business taxes. The IRS describes its online tax center as a "one-stop assistance center for filing your business returns."

• Step 4

  View IRS video and audio presentations. The IRS created these multimedia presentations to illustrate small business tax procedures, rules and deductions.

• Step 5

  Participate in the IRS virtual small business tax workshop online. According to IRS.gov, this workshop is "designed to help new small business owners learn their tax rights and responsibilities." It's an interactive lesson available year-round. The IRS Video Portal will guide visitors to archived versions of -panel discussions pertaining to small business taxes.

• Step 6

  Use the tutorials and Q-and-A portions of common tax-filing software, available at office supply stores or online. The typical format will answer many business tax deductions questions as you work your way through the forms and schedules. These programs also have tutorials that demonstrate their use, including how to ask a specific expense-related question of the program.

• Step 7

  Take an income tax course if you require even more in-depth knowledge. You can find courses online or at colleges, or even take tax preparer's training from a professional tax firm. Though you don't need such a course to file a return, this will offer thorough instruction.

• Step 8

  Ask a tax professional for information and advice. If you're more comfortable with in-person professional attention, this approach will offer you one-on-one learning.

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• Non-IRS or non-governmental sources of information--especially blogs--are often filled with rumors, so avoid them as credible, legal information sources.
• Non-IRS or non-governmental sources of information--especially blogs--are often filled with rumors, so avoid them as credible, legal information sources.

References & Resources

• IRS.gov: Small Business Video and Audio Presentations
• IRS.gov: Virtual Small Business Tax Workshop
• IRS Video Portal
• Official Business Link to the U.S. Government