#llc
LLC
LLC formation, taxation, and accounting best practices explained
What Is the LLC Tax Rate? A Complete Guide to How LLCs Are Actually Taxed
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.
What Tax Rate Do Small Businesses Actually Pay? A 2026 Guide by Entity Type
There is no single small business tax rate. Federal effective rates typically run 12–24% for pass-throughs and a flat 21% for C corps, with self-employment tax, the QBI deduction, and entity choice each shifting the bill by thousands per year.
17 SMB Tax Saving Strategies That Actually Move the Needle in 2026
A working playbook for small business owners filing in 2026 — covering the now-permanent QBI deduction, the $2.56M Section 179 cap, S-corp salary structure, Solo 401(k) limits up to $72,000, and the bookkeeping habits that make every other strategy survive an audit.
Sole Proprietorship Taxes: A Complete Guide to Schedule C, Self-Employment Tax, and Deductions
A practical 2026 walkthrough of how the IRS taxes sole proprietors — covering Schedule C, the 15.3% self-employment tax on 92.35% of net earnings, quarterly estimated payments, the QBI deduction, and the threshold where an S-Corp election starts paying off.
Corporate Transparency Act in 2026: What Small Business Owners Actually Need to Know
In March 2025, FinCEN's interim final rule removed roughly 99.8% of U.S. entities from Corporate Transparency Act reporting. Domestic LLCs and corporations no longer file BOI reports, but foreign-registered companies, state-level disclosure laws, and bank due diligence still demand clean beneficial ownership records.
Doing Business in Wyoming: The 2026 Tax and Compliance Guide
A 2026 operating guide to Wyoming business taxes and compliance—4% sales tax with a $100,000 economic nexus threshold, the anniversary-month annual report, registered agent rules, and the federal layer that catches foreign-owned LLCs.
Single Member LLC: Formation, Taxes, and Liability Protection in 2026
A single member LLC is taxed as a disregarded entity by default but creates the legal separation a sole proprietorship lacks. This guide covers formation steps, the three tax election paths (Schedule C, S-corp via Form 2553, C-corp via Form 8832), and the bookkeeping discipline needed to preserve the liability shield.
Tax ID Numbers Explained: EIN, SSN, and ITIN for Small Business Owners
A plain-English guide to the three tax ID numbers most small business owners meet — EIN, SSN, and ITIN — covering who needs which, how to apply directly with the IRS for free, and the common mistakes that trigger penalties or delays.
Tax Implications for Foreign-Owned US Businesses: A 2026 Compliance Guide
Foreign-owned US LLCs face a $25,000 Form 5472 penalty per missed filing, 30% default withholding on US-source income, and tighter 2026 BOI rules. This guide covers the entity choices, forms, treaty benefits, and bookkeeping habits non-resident owners need to stay compliant.
Schedule C (Form 1040): The Complete 2025 Guide for Sole Proprietors and Single-Member LLCs
Schedule C reports business income and expenses for sole proprietors and single-member LLCs. This guide walks through every line of the form, the $400 filing threshold, the home office and 70-cent-per-mile vehicle deductions, and the recordkeeping that holds up under IRS review.
Schedule K-1 Explained: Partnership Income, Phantom Tax, and Six Costly Mistakes
Schedule K-1 reports your share of pass-through income from a partnership, S corporation, or trust — and you owe tax on your allocation, not on the cash you actually received. A working guide to each major box, the phantom income trap, partner basis rules, the 2026 filing timeline, and six mistakes that cost K-1 recipients real money every year.
Startup Costs Tax Deduction: How to Write Off Up to $10,000 Your First Year
Section 195 lets new businesses deduct up to $5,000 of startup costs and another $5,000 of organizational costs under Section 248/709 in the first year, with the remainder amortized over 180 months. Phase-out begins at $50,000 and eliminates the immediate deduction at $55,000.