#tax-compliance
Stay compliant with tax regulations and filing requirements
South African freelancers pay provisional tax in two IRP6 installments — 31 August and 28/29 February — by estimating full-year taxable income themselves; missing a deadline or estimating below 90% of actual income triggers a 10% late-payment penalty, a 20% underestimation penalty, and interest from the effective date.
Section 127 lets an employer give each employee up to $5,250 a year, tax-free, toward tuition or student loan payments — now permanent under the One Big Beautiful Bill Act and indexed for inflation from 2027. This guide covers the written-plan and nondiscrimination requirements, the W-2 treatment, and a clean chart-of-accounts setup.
Childcare centers that book private tuition, CCDF/CCW subsidy reimbursements, and CACFP meal reimbursements to one income line can't reconcile deposits to attendance or meal counts, which is the most common finding in subsidy and CACFP audits.
A craft brewery accounting guide covering the 2026 federal beer excise tax rates ($3.50/$16/$18 per barrel under CBMA), how to book keg deposits as a liability instead of revenue, and a channel-level chart of accounts that separates taproom, self-distribution, and wholesale margins.
The IRS assessed about $4.8 billion in estimated-tax penalties on 15 million-plus returns in FY2024. Four fixable bookkeeping habits — commingled accounts, spreadsheet ledgers, personal credit for business spending, and lax records — cause most of the damage, and each has a same-day fix.
Starting September 1, 2026, France requires structured e-invoices (Factur-X, UBL, or CII) for domestic B2B transactions, and US sellers with no French establishment must supply clean, itemized invoice data so their French customers can meet the parallel e-reporting obligation.
The IRS requires S-corp and C-corp Designated Officials to revalidate Business Tax Account access every June 15 through July 29 or lose online access to payments, transcripts, and notices until they reapply from scratch.
Maryland's new 3% sales tax on IT, data processing, software publishing, and computer systems design services (NAICS 518, 519, 5132, 5415) took effect July 1, 2025 with no revenue threshold, so SaaS founders, freelance developers, and IT consultants with even one Maryland customer may owe it — this guide covers what's taxable, how sourcing and MPU certificates work, and how to book the liability separately from your 6% sales tax.
The 21st Century Worker Act (S. 2159) would set one federal classification test and add a third "mutual election" category letting a business and worker jointly choose contractor or employee status, defaulting to contractor if they disagree. Here is what it would change for freelancer bookkeeping and how to keep contractor records defensible now.
Selling business equipment? IRS Publication 544 explains how depreciation recapture under Section 1245 turns gain into ordinary income on Form 4797.
Section 139 lets employers reimburse employees' unreimbursed disaster expenses with no income tax, no FICA/FUTA, and no W-2 reporting — while keeping the deduction. Covers what qualifies, what doesn't (lost wages, insured costs), the minimal documentation needed, and how to book payments outside payroll.
A booth renter is a separate business, not a salon employee — rent is a Schedule C expense, client payments arrive with nothing withheld, and 15.3% self-employment tax plus quarterly 1040-ES estimates are the renter's alone. This guide covers the IRS control tests, which 1099s and W-9s each side owes, and the account structure that keeps a chair rental defensible in an audit.
