A practical reference for small business owners on what records the IRS requires, how long to keep each type (3, 4, 6, or 7 years), the de minimis $75 receipt rule, and how to build a system you will actually maintain month after month.
When a tax attorney is worth hiring instead of a CPA or enrolled agent, what they charge in 2026 ($300–$600 per hour, $3,500–$7,500 flat for common matters), and how attorney-client privilege changes what is at stake in audits, collections, and criminal investigations.
A practical guide to claiming charitable contribution tax deductions — covering qualified organizations, AGI limits (20%–60%), documentation requirements, and strategies like donor-advised funds and qualified charitable distributions for retirees.
The IRS now uses AI to cross-reference your return against W-2s, 1099s, and bank records. Here are 12 specific tax return mistakes—from missing income to wrong bank account numbers—with exact steps to avoid each, and what to do if you've already filed with an error.
A cost-benefit breakdown of DIY bookkeeping versus professional bookkeeping services—covering real time costs, hidden risks, and a four-question decision framework for small business owners.
EIDL borrowers must maintain records for decades—five years current plus three years after final payoff. This guide covers which documents to keep, SBA audit powers, approved fund uses, and how to build an audit-ready bookkeeping system.
The federal EV tax credit (up to $7,500) expired September 30, 2025 under the One Big Beautiful Bill Act. Here's who can still claim it on their 2025 return, how the new car loan interest deduction works, and what records to keep.
Form 1096 is the IRS cover sheet required when paper-filing 1099s and other information returns. Learn who must file it, the exact due dates by form type, how to fill it out correctly, and the penalties for common mistakes.
Form 8832 lets LLCs override their default IRS tax classification—single-member (disregarded entity) or multi-member (partnership)—to elect C corporation treatment at the 21% flat rate, with a 60-month lock-in and a 75-day retroactive filing window.
Form 8941 lets small businesses claim up to 50% of employee health insurance premiums as a direct tax credit — but only if you have fewer than 25 FTE employees, pay average wages below ~$65,000, and purchase coverage through the SHOP Marketplace. Here's how to calculate and claim it before your two-year eligibility window closes.
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