Tax Tips

| 01 Mar 2023

How Long Can A Small Business Go Without Filing Taxes?

It can be difficult for a business owner to decide whether they should file taxes sooner or later – which is why delving into this topic is an important starting point for any small business owner who wants to understand their options better. So, without further ado, let's begin and learn more about how long can a small business go without filing taxes.

Tax Tips

| 01 Dec 2022

A Detailed Guide to Filing the Schedule K-1 Tax Form

Schedule K-1 in Form 1065 is submitted by partners of a business to report their profits and losses to the IRS. Read about the various aspects of Schedule K-1.

Tax Tips

| 30 Nov 2022

Everything You Need to Know About Stimulus Packages for Small Businesses

In March 2020, when nations over the world were heading into lockdown and economies started falling apart, the US government released the Coronavirus Aid...

Tax Tips

| 22 Nov 2022

11 Proven Ways To Reduce Costs & Increase Profit For Your Business

There are a few proven ways to reduce costs and increase profit for your business. That's why we've put together a list of ways to help you cut costs and increase profits for your business

Tax Tips

| 27 Oct 2022

Difference between 1099-NEC and 1099-MISC

This article offers a 1099-NEC vs. 1099-MISC breakdown and an in-depth look at both forms so that you can stay informed without losing track. Know when to file these forms, how to submit these forms, and the penalties.

Tax Tips

| 06 Oct 2022

Top 11 Ways to Grow a Profitable Business in 2022

Running a small business today is tricky. As a business owner, you’re constantly juggling between different areas – from sales, marketing, and hiring to taxes, legal and whatnot, the list is truly endless

Tax Tips

| 05 Oct 2022

Easy Step-by-Step Guide to Calculating Payroll Taxes

There are a number of different factors that must be taken into account when calculating payroll taxes, including the type of employee, the number of hours worked, and more. To help you with that, we present you with an easy step-by-step guide on payroll taxes.

Tax Tips

| 03 Oct 2022

Different Types of Small Business Tax Deductions

Find out which start-up expenses you can claim as a tax deduction and whether your small business qualifies for this tax break

Tax Tips

| 23 Sep 2022

Federal Income Tax Brackets & Tax Rates for 2021

Find out what the new IRS tax brackets are for filing your returns and how to calculate your taxes with them

Tax Tips

| 23 May 2022

You Made It! Tax Season Is Finally Over. Here’s How To Make It Easier Next Year

The best way to make your tax season easier is to start planning early. We bring to you our top tips to make the next tax season less painful.

Tax Tips

| 12 May 2022

Could You Save Money By Becoming An S Corp?

Are you wondering if becoming an S Corp can save you and your business money? Learn how S Corp works and how to make it happen here.

Tax Tips

| 21 Sep 2021

Tax Deductions for Travel Expenses: Guidelines for Small Business Owners

Wondering how to deduct travel expenses from your taxes? This handy guide shows you what constitutes a business expense when traveling and how to write it off.

Tax Tips

| 21 Sep 2021

Tax Filing & Extension Deadlines - Everything You Need to Know

IRS has officially extended the federal income tax filing due date from April 15 to May 17. Read on to know more.

Tax Tips

| 20 Sep 2021

Sales Tax Guide: How to Calculate & File for Sales Returns

Struggling to figure out your estimated sales tax? Read this article to learn all about sales tax, its calculation, and how to file efficiently for maximum sale

Tax Tips

| 20 Sep 2021

The Top 5 Mileage Tracker Apps in 2021

A mileage tracker can save you from burning a hole in your pocket and can help you run your business in an organized way. Find out more about the five best ones.

Tax Tips

| 18 Sep 2021

Schedule C Forms: Basic Information for Small Businesses

Schedule C is attached to Form 1040 and is used to inform the IRS about the profit and loss of your small business. Read on to know how to file this form.

Tax Tips

| 18 Sep 2021

Form 4562: IRS' Depreciation & Amortization form

If you’re depreciating assets on your tax return, you need to file Form 4562. Read on for all the details on how to take care of it.

Tax Tips

| 17 Sep 2021

A Simple Guide to Form 1096: Due Dates, Form Details & More

If you're a small business with employees, you need to file IRS Form 1096 along with your 1099 form. Read on to learn how to file 1096 tax forms..

Tax Tips

| 17 Sep 2021

Filing Form 1120-S? Here's What You Need to Know

Don't know where to file Form 1120-S? Struggling to fill it out? This article answers all your queries related to this important tax form for S corporations.

Tax Tips

| 15 Sep 2021

An Overview of How to File Taxes for a LLC

A simple introduction to how LLC taxes work. As an LLC, you get to choose how you're taxed. Find out more about this here.

Tax Tips

| 14 Sep 2021

IRS Form 941 Guide: Quarterly Federal Tax Return & How to Calculate it

Are you a creative business owner? Are IRS forms perplexing? Learn all about how to fill out Form 941 and more in this article!

Tax Tips

| 14 Sep 2021

Major Differences Between Tax Filing and Tax Planning

Find out how tax filing and tax planning are different, along with how to optimize your profits by carrying out tax planning before filing your returns.

Tax Tips

| 14 Sep 2021

What Is Payroll Tax & How Do You Calculate It?

Let’s first learn what payroll taxes are. We will then take a glimpse into the calculation process for the employer and the employee.

Tax Tips

| 12 Sep 2021

A Guide to W2 & W4 Forms For Your Small Business

Here is a simple breakdown of IRS forms W2 and W4. The article explains how to use them and why they are important for your small business.

Tax Tips

| 10 Sep 2021

A Step-by-Step Process for Filing Small Business Taxes in the US

This guide explains how to file business taxes in three easy steps. Read on to know the documents required and the tax forms to submit based on your entity type

Tax Tips

| 10 Sep 2021

What Is IRS 1040? Your Complete Guide This Tax Season

Take a look at this refresher guide for US taxpayers on Form 1040, its schedules, and how to file it for the 2021 tax season.

Tax Tips

| 08 Sep 2021

Guide to Section 179 Deductions

If you're a small business, chances are you're scrimping and saving since you have limited resources, and the pandemic situation doesn't help at all. Read on for some expert guidance on how to claim deductions under Section 179 if you're purchasing equipment for your business.

Tax Tips

| 05 Sep 2021

Tax Deadlines for 2021: A Helpful Guide for US Taxpayers

This article details the nitty-gritty of the various tax deadlines that US citizens have to file for the years 2020 and 2021.

Tax Tips

| 01 Sep 2021

Everything You Need to Know About FICA Tax

Learn the basics of FICA taxes along with the payroll tax rates so that you know who must pay them and how. FICA is a mandatory payroll tax that is split equally between the employees and the employers. Employers in the USA must withhold a part of their employees' income according to the FICA law. This part is paid to the government, hence the term 'payroll tax.'

Tax Tips

| 01 Sep 2021

SUTA Tax Guide: Who pays? How to calculate it?

After hiring your first employee, you must start making quarterly state unemployment tax (SUTA) payments. Find out what that means for your business.

Tax Tips

| 31 Aug 2021

Vehicle Tax Deduction: How to Write Off Vehicle Expenses?

Writing vehicular expenses under Section 179 can be immensely useful, especially for small businesses. Keep reading to clear all your doubts regarding car tax..

Tax Tips

| 30 Aug 2021

Filing Form 1120: The Complete Guide for Businesses to File Tax Returns

As a small business owner, you need to be aware of Form 1120, how to fill it out, and when it is due. This article on filing your 1120 tax form will provide...

Tax Tips

| 29 Aug 2021

Itemized Deductions: How to Reduce Your Tax Bill

Should you stick to the standard deduction or itemize your expenses? Discover how itemized deductions might be beneficial to you when preparing your tax return.

Tax Tips

| 27 Aug 2021

IRS Form 1065: What It Is & How To File It

Are you struggling to file IRS Form 1065? Here's a step-by-step instructional guide for partnerships and LLCs on how to fill it out and when to file it.

Tax Tips

| 18 Aug 2021

W9 Form Explained: What It Is & Why You Need To File It

Read our article to find out what the W-9 form and Tax Identification Number (TIN) is, who should fill it out, and how to do it properly.

Tax Tips

| 13 Aug 2021

Everything you need to know about Sole Proprietorship

Thinking about starting a sole proprietorship? Read on to find out what sole prop is, how to form it, and whether it is suitable for your business idea.

Tax Tips

| 17 Jul 2021

Simplified Tax Guide: How Much Do Small Businesses Pay in Taxes?

Continue reading for an in-depth guide on how small businesses are taxed based on business structure, income brackets, and other factors.

Tax Tips

| 17 Jul 2021

What Is FUTA? - Who Needs to Pay It & How to Calculate It

Read on to know more about how to calculate, file, and pay FUTA unemployment tax for each of your employees, using Form 940.

Tax Tips

| 15 Jul 2021

The Designers' Guide to Doing Taxes - A Few Tips & Tricks

As a design firm, you ought to know which tax forms to submit and how to fill them out. Continue reading for some tax filing tips to help you dodge penalties.

Tax Tips

| 15 Jul 2021

What Is Form 940 & How to File Your FUTA Tax Return

Form 940 is the federal unemployment tax annual report that employers must file to inform the IRS about unemployment tax for their employees. Read our article to find out how and where to mail Form 940 to report all FUTA taxes where required.

Tax Tips

| 07 Jul 2021

Guide to IRS Form 2553 - How To Save on Small Business Taxes

Trying to navigate IRS Form 2553? This guide details the instructions on how to file Form 2553 with step-by-step instructions, requirements, and deadlines

Tax Tips

| 26 Jun 2021

Guide to S Corporation Taxes: How to File & Benefits

There's a lot of misinformation doing the rounds when it comes to the S corp status and its deemed tax benefits. Read this guide to learn how S corps are taxed.

Tax Tips

| 16 Jun 2021

A Beginner's Guide to Record-Keeping for Small Businesses

Get an overview of all the different records and receipts you have to maintain as a small business owner and how to manage them efficiently.

Tax Tips

| 10 Jun 2021

What Is Income Tax Liability and How Do You Calculate It?

A tax liability is what you owe to the IRS or other taxing authority when you finish preparing your tax return. Check out different types of income tax...

Tax Tips

| 02 Jun 2021

Independent Contractor Taxes: How to Calculate & File Them

How should an independent contractor calculate and pay taxes? Understand the process and calculation method to file your tax returns before the due date.