Tax Preparation Services for Microentrepreneurs
These two Webinars provided an introduction and then a more detailed look at the emerging trend for microenterprise programs to offer tax preparation services to the self-employed. Listen to our podcasts/webinars and download other critical resources for your microenterprise program:
Overview/Introductory information
Leading Edge Webinar:
Tax Preparation Services for Microentrepreneurs (Part I)
Provides an introduction to tax prep services for microentrepreneurs, profiles the partnership between the Greater Philadelphia Urban Affairs Coalition (free tax site and campaign) and the Entrepreneur Works (a microenterprise program), and introduces the Making Work Pay tax credit and its application to the self-employed.
Download here.
Web resources on Tax preparation for Microentrepreneurs:
EITCPlatform QuickGuide: Preparing Self-employment Tax Returns
Provides an overview of the why and of preparing self-employment returns at VITA and free tax prep sites, and critical issues that sites should consider.
(Note: you must register (free of charge) for the EITCPlatform to access this resource).
EITCPlatform QuickGuide: Linking Tax Preparation and Microenterprise
Provides a brief introduction to the issues and options in linking tax preparation and microenterprise.
(Note: you must register (free of charge) for the EITCPlatform to access this resource).
Self-Employment Tax Initiative (SETI) website
Provides a range of information and resources related to cfed’s Self-Employment Tax Initiative.
Moving to “How To”:
Leading Edge Webinar:
Tax Preparation Services for Microentrepreneurs – Part II
A follow-up to the introductory Webinar, above, provides more details on the “how-to” of providing tax preparation services to entrepreneurs. Provides a quick review of the challenges and opportunities in providing these services, and includes a dialogue with two organizations providing tax prep services to the self-employed (the Latino Economic Development Corporation and Central Vermont Community Action Council). The dialogue delves into how both organizations have structured their programs and addressed some of the key challenges involved in offering these programs.
Download here.
Web resources on How-To:
Resources page of SETI Website
Provides a wide set of resources from cfed-funded programs providing tax preparation services to the self-employed. Types of resources include: intake forms, tax preparation checklists and organizers, marketing and outreach materials (flyers, brochures and videos), and tax preparer training materials (including information on when to file a Schedule C).
EITCPlatform
Provides a wide set of information and resources to EITC and free tax prep sites, including the QuickGuides referenced above, on-line quality training that includes some examples of individuals with self-employment income, and access to group and/or reduced-price purchasing of key resources such as computers, volunteer management software and office supplies.
SETI Making Work Pay Tax Credit flyer
SETI has created a flyer that microenterprise and other organizations can use to inform self-employed individuals about their eligibility to receive the “Making Work Pay” tax credit authorized as part of the American Recovery and Reinvestment Act (ARRA).
AARP Tax-Aide Program and Locator
The AARP Foundation’s Tax-Aide program is the nation’s largest free, volunteer-run tax assistance and preparation service. It is available to taxpayers with low- and moderate-incomes and gives special attention to people age 60 and older, and volunteers are trained to complete Schedule C-EZ. Use the Foundation’s Tax-Aide locator at https://locator.aarp.org/vmis/sites/tax_aide_locator.jsp to identify a local Tax-Aide site with which to partner or refer clients.
