#small-business
Financial management strategies and tools for small business owners
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.
The QBI deduction lets pass-through business owners deduct up to 20% of qualified business income—Form 8995 is how you claim it. Covers who qualifies, income thresholds, SSTB rules, calculation examples, and 2026 permanent-status changes.
Form 940 is the IRS return employers use to report annual FUTA tax liability—6% on the first $7,000 of each employee's wages, reducible to 0.6% with timely state unemployment tax payments. Covers who must file, quarterly deposit thresholds, how to claim the state tax credit, Schedule A for multi-state employers, and penalties for late filing.
Form 941 is the quarterly payroll tax return every employer must file—reporting withheld income tax, Social Security, and Medicare. Covers who files, 2026 deadlines, how to complete each section, penalty rates (up to 15% for late deposits), and the $100,000 next-day deposit rule.
A practical breakdown of when hiring a CPA or enrolled agent pays off versus when DIY software is enough—including cost benchmarks, credential differences, and red flags to avoid.
A state income tax extension is not automatic in most states—this guide covers which states require separate forms, how to estimate and pay taxes owed by the original deadline, and how to avoid late-filing penalties.
A practical guide to small business taxes covering income tax, self-employment tax (15.3%), payroll taxes, 2026 quarterly estimated payment deadlines, IRS payment methods, and strategies to reduce your tax burden.
The FTC received 278,000+ debt collection complaints in 2025. Learn 7 red flags that signal a fake debt collector, how to verify legitimacy, your FDCPA rights, and what to do if you've been targeted — including specific protections for small business owners.
A practical guide to calculating income tax liability for sole proprietors, LLCs, S-corps, and C-corps—covering 2026 tax law changes including the 23% QBI deduction and 100% bonus depreciation, plus 7 strategies to legally reduce what you owe.
The Inflation Reduction Act doubled the R&D payroll tax credit for qualifying startups to $500,000, expanded commercial clean energy credits, and boosted IRS enforcement funding—here's what each provision means for your small business tax strategy in 2025 and 2026.
An accountable plan lets businesses reimburse employee expenses tax-free and exempt from payroll taxes—saving employers roughly $382 per $5,000 in expenses. This guide covers the three IRS requirements, step-by-step setup, and common compliance mistakes to avoid.
