April 30 through May 6 is National Small Business Week. That’s why the IRS is highlighting some available resources for America’s small business owners. For those just starting out, a key task is to obtain an employer identification number (EIN), which is free and can be quickly obtained on IRS.gov. An EIN will be used for tasks such as banking and filing taxes. Entrepreneurs will also need to decide the structure of their businesses, such as a corporation, sole proprietorship, or other entity. Whatever structure is chosen, the income generated will generally be taxable and must be verified with careful recordkeeping. Here’s more information from the IRS. Questions? Contact Cg. © 2023