Forgiven PPP loans are federally tax-free and the expenses paid with them remain fully deductible, but EIDL loans, EIDL Advance grants, and PUA benefits each carry distinct tax treatment — including a one-time $10,200 unemployment exclusion for 2020 under the American Rescue Plan.
A practical guide to how LLCs are actually taxed federally—disregarded entity, partnership, S-corp, or C-corp—when each classification makes sense, what the S-Corp election saves at $150K of profit, the 75-day Form 2553 deadline, and the six mistakes that most reliably trigger IRS audits.
A line-by-line guide to the deductions self-employed workers can claim in 2026, including the now-permanent 20% QBI deduction under OBBBA, $72,000 Solo 401(k) limits, the 72.5-cent IRS mileage rate, and the documentation rules that hold up under audit.
A practical week-by-week, quarter-by-quarter, and year-end tax preparation checklist for small business owners — covering 2026 IRS deadlines, estimated tax payments, deductions, 1099 filing, and the bookkeeping habits that turn April from a sprint into a routine handoff.
The OBBBA made the QBI deduction permanent and raised it to 23% in 2026, expanded SALT to $40,000 through 2029, and lifted the estate exemption to $15 million. Here is how small business owners running pass-through entities, S corps, and LLCs should plan around it.
Section 280A(g) lets business owners rent their personal residence to their company for up to 14 days per year and exclude the income from federal tax. This guide covers eligibility, fair-market rate setting, the documentation auditors expect, and the lessons from Sinopoli v. Commissioner.
Form 1120-W was retired after 2022, but C corporations expecting to owe more than $500 in federal tax must still make quarterly estimated payments. This guide covers the 2026 due dates, the 21% rate calculation, the two safe harbors, the $1 million large-corporation trap, the annualized income installment method, and the EFTPS-only payment requirement.
Six IRS-approved paths to clear back taxes — short-term plans, 72-month installment agreements, penalty abatement, Offer in Compromise, and Currently Not Collectible status — with eligibility, fees, and when to use each.
A 2026 guide to the six most common IRS penalties—their rates, calculations, and the three relief paths that can reduce or remove them, including the newly automatic First-Time Abatement.
An LLC has no federal tax classification of its own — it borrows the rules of a sole proprietorship, partnership, S corporation, or C corporation. This 2026 guide breaks down every regime, the actual rates that apply, the income thresholds where the S-corp election starts paying off, and the state and self-employment tax layers that determine your real effective LLC tax rate.
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