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IRS Form W-2 reports annual wages and withheld taxes for every employee — this guide covers who must file, 2026 deadlines (February 2), penalty amounts up to $630 per form, a box-by-box breakdown, and what to do if your W-2 is missing or incorrect.
The IRS Fresh Start Program offers four relief tools—Offer in Compromise, installment agreements, penalty abatement, and Currently Not Collectible status—that can reduce or defer tax debt for qualifying taxpayers. Here's how each works, who qualifies, and how to apply.
The 2026 IRS standard mileage rate is 72.5 cents per mile—a $14,500 deduction for 20,000 business miles. This guide covers which miles qualify, how to choose between the standard rate and actual expense method, what your mileage log must contain, and the mistakes that get deductions disallowed.
The IRS First-Time Penalty Abatement program can eliminate failure-to-file, failure-to-pay, and failure-to-deposit penalties for taxpayers with a clean 3-year compliance history — no documentation required, often approved in a single phone call.
IRS penalties range from 0.5% to 75% of unpaid taxes depending on type—learn the six main categories, current 2026 rates, safe harbor rules, and how to request first-time abatement or reasonable cause relief.
The 2026 SALT cap increase to $40,000 and a new 0.5% AGI floor on charitable giving change the math on itemizing. Here's who benefits, what qualifies on Schedule A, and how to maximize deductions—including bunching and donor-advised funds.
LLCs offer flexible tax treatment — from pass-through taxation and the now-permanent 20% QBI deduction to S-Corp elections that can save $5,000–$50,000 annually. Covers every major LLC tax benefit, real savings examples, and the 2025 law changes that affect your filing strategy.
A practical guide to claiming maximum IRS vehicle deductions in 2026, covering the standard mileage rate (72.5¢/mile), actual expense method, Section 179 expensing, bonus depreciation, and the record-keeping rules that protect you in an audit.
Medicare tax applies to all wages with no income cap; in 2026 the base rate is 2.9%, but high earners face an additional 0.9% surtax and up to 5% Net Investment Income Tax on passive income.
New York businesses may owe taxes to three entities simultaneously—state, city, and the MCTD. Covers corporation franchise tax rates, LLC filing fees, NYC GCT and UBT, MCTMT thresholds, quarterly estimated payment deadlines, and key credits for NY small business owners.
A side-by-side comparison of six online bookkeeping services—Pilot, Bookkeeper360, Merritt, CapForge, RemoteBooksOnline, and Maxim Liberty—covering pricing ranges from $75 to $499/month, accounting method, software platform, and five key questions to ask before signing up.
Pass-through business owners can deduct up to 20% of qualified business income under Section 199A, but income thresholds, SSTB rules, and W-2 wage limits determine the actual amount—here's how to calculate and maximize it.
