The New Mexico Taxation and Revenue Department will resume tax workshops for new businesses in a new, online format.

The New Business Workshop presented by NM Taxation & Revenue is a comprehensive look at the Combined Reporting System (CRS) for Gross Receipts, Withholding and Compensating Tax programs.  It covers such topics as Non-Taxable Transaction Certificates, Estimated income tax payments for business owners, deductions and exemptions from Gross Receipts, special tax programs and audits.  We also present e-file training.

The Department suspended its in-person workshops in March in response to the public health emergency. The workshops will resume in a virtual format using the Zoom online meeting platform. Participants will be able to ask questions using the chat function in the Zoom application.

Registration is available using this link: https://zoom.us/meeting/register/tJIpdOyhpjovEtH9XNMhIxRXzjup9J2T9ocz

Below is a list of Dates and Time for new online workshops:

Following the NM Taxation and Revenue Department workshops, the IRS will conduct new businesses workshops beginning at 1:00pm.

The IRS New Business Workshop provides important tax information to people starting a new business, particularly those who have spent their working careers as W-2 employees. Topics of special interest to those who will be classified as self-employed include recordkeeping requirements, self-employment tax & requirements to prepay taxes & deductions, also referred to as estimated taxes. Other topics of general interest include deductions for business use of personal vehicles & home office expenses.

These workshops are presented on behalf of the IRS by CPAs, Enrolled Agents and experienced tax accountants who volunteer their time and knowledge to help inform new business owners of their federal tax responsibilities.

Course Agenda as follows:

• Business Organizations
• Record Keeping
• Retaining Tax Records
• Types of Business taxes

           -Break-

• Travel and Transportation
• Car and Truck Expense
• Business Meals & Gifts
• Business Use of Home
• Start-Up Costs
• Employee or Independent Contractor

Registration is available using this link:https://zoom.us/meeting/register/tJcod-ihqjIvHtSsCYAYrJITUcBD9C3M3zEz

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