IRS Publication 334: Tax Guide For Small Business

Definition of 'IRS Publication 334: Tax Guide For Small Business'


A document published by the Internal Revenue Service (IRS) that provides small businesses owners with information on federal tax law that apply to small businesses. IRS Publication 334 outlines different tax credits and deductions that are available, and how to treat both business income and expenses. It indicates what forms to fill out, what business income should be reported, what accounting method to use and what to do if a business is sold or dissolved during the year.

Investopedia explains 'IRS Publication 334: Tax Guide For Small Business'


IRS Publication 334 pertains specifically to small business owners who are self-employed, as well as statutory employees such as independent contractors. The business can be either a full or part-time venture. S Corporations, partnerships, farmers and fishermen, corporations, residential rental property income and income from passive activities are covered under other IRS publications.



comments powered by Disqus
Hot Definitions
  1. Effective Annual Interest Rate

    An investment's annual rate of interest when compounding occurs more often than once a year. Calculated as the following:
  2. Debit Spread

    Two options with different market prices that an investor trades on the same underlying security. The higher priced option is purchased and the lower premium option is sold - both at the same time. The higher the debit spread, the greater the initial cash outflow the investor will incur on the transaction.
  3. Odious Debt

    Money borrowed by one country from another country and then misappropriated by national rulers. A nation's debt becomes odious debt when government leaders use borrowed funds in ways that don't benefit or even oppress citizens. Some legal scholars argue that successor governments should not be held accountable for odious debt incurred by earlier regimes, but there is no consensus on how odious debt should actually be treated.
  4. Takeover

    A corporate action where an acquiring company makes a bid for an acquiree. If the target company is publicly traded, the acquiring company will make an offer for the outstanding shares.
  5. Harvest Strategy

    A strategy in which investment in a particular line of business is reduced or eliminated because the revenue brought in by additional investment would not warrant the expense. A harvest strategy is employed when a line of business is considered to be a cash cow, meaning that the brand is mature and is unlikely to grow if more investment is added.
  6. Stop-Limit Order

    An order placed with a broker that combines the features of stop order with those of a limit order. A stop-limit order will be executed at a specified price (or better) after a given stop price has been reached. Once the stop price is reached, the stop-limit order becomes a limit order to buy (or sell) at the limit price or better.
Trading Center