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Tax
Tax strategies, planning, and compliance for individuals and businesses
COVID-19 Tax Penalty Refunds: Your Last Chance Before July 10, 2026
A small business owner's guide to filing Form 843 for COVID-era penalty refunds under the Kwong ruling, with step-by-step instructions and eligibility criteria before the July 10, 2026 deadline.
India's Freelancer Tax Maze in 2026: How Section 44ADA and the GST Threshold Actually Work
Indian freelancers face two independent tax systems — Section 44ADA presumptive income tax (50% of gross receipts up to ₹75 lakh) and GST registration at the ₹20 lakh turnover threshold — plus Section 194J TDS withholding, and conflating the two is the most common costly mistake.
The Mandatory Roth Catch-Up Rule: What Business Owners Over 50 Need to Know for 2026
Starting January 1, 2026, anyone whose 2025 FICA wages exceeded $150,000 must direct their entire 401(k) catch-up contribution — $8,000 standard or $11,250 for ages 60-63 — into a Roth account, with no pre-tax option and no opt-out.
What It Actually Costs to Sell Your Business: Broker Fees, the Lehman Formula, and Hidden Costs
Business brokers and M&A advisors charge Double Lehman commissions of 10% down to 2% by tier, but minimum fee floors, non-creditable retainers, expense reimbursement, and tail clauses routinely add 5-20% on top of the quoted success-fee percentage.
From Gross Payout to Real Deposit: Reconciling Upwork and Fiverr Fees for Your 1099-K
Upwork and Fiverr 1099-Ks report gross payment volume before platform commissions and withdrawal fees are deducted, so freelancers must record both as separate Schedule C expense lines to reconcile reported income with actual bank deposits.
ATO Interest Is No Longer Tax-Deductible: What GIC and SIC Now Really Cost Your Business
From 1 July 2025, the ATO's General Interest Charge and Shortfall Interest Charge are no longer tax-deductible — even on old tax debts. With GIC around 11% compounding daily, the after-tax cost of ATO debt jumped from roughly 7–8% to full sticker price. Here's how the incurred-date rule works and what to do about existing debt.
The IRS's First AI Rules for Tax Preparers: What Circular 230 Alert 2026-19 Means for Your Business
On June 24, 2026, the IRS Office of Professional Responsibility issued Alert 2026-19, its first guidance on AI under Circular 230. It requires human review of AI output, technological competence, secure handling of client data, written firm AI policies, and fees that reflect AI-driven time savings — here's what small business owners should ask their preparer.
Massachusetts Decouples from OBBBA: What R&D Expensing, Section 179, and Bonus Depreciation Changes Mean for Your Business
Massachusetts rejected four major OBBBA federal tax breaks — immediate R&D expensing, 100% bonus depreciation on qualified production property, the $2.5M Section 179 limit, and the EBITDA-based interest cap — and set a September 10, 2026 deadline to file amended 2025 state returns without interest charges.
New Jersey Caps the NOL Deduction at $1 Million: What Corporations Need to Know for 2026–2030
New Jersey's A5322 caps corporate net operating loss deductions at $1 million per year for privilege periods ending July 31, 2026 through July 31, 2030, with public utilities exempt, a six-year carryforward extension for disallowed losses, an estimated-tax penalty safe harbor, and an 80%-to-75% limitation phase-down through 2032.
Ryczałt vs. Skala Podatkowa: How Poland's Sole Proprietors Should Pick the Right Tax Regime in 2026
Poland's sole proprietors must pick between ryczałt (2–17% on revenue), skala podatkowa (12%/32% on income), and podatek liniowy (flat 19%) by February 20, 2026. This guide compares the 2026 rules — including the health contribution jump to a 100% minimum-wage assessment base — and shows which regime fits low-expense freelancers versus high-cost contractors.
Canada's New Bare Trust Reporting Rules Under Bill C-15: Who Actually Has to File for the 2026 Tax Year
Bill C-15 makes bare trust reporting mandatory in Canada for tax years ending on or after December 31, 2026, with T3 and Schedule 15 filings due March 31, 2027. Covers which small-business arrangements count as bare trusts, the narrow $50,000/three-month exemption, and penalties up to 5% of trust property value.
Estonia e-Residency in 2026: The New 2% Board Fee Tax, VAT Substance Rules, and What Still Works
Estonia added a 2% surcharge on board member fees (24% total) from January 2026 and now denies VAT numbers to e-Resident companies without real economic ties — while 0% corporate tax on retained profits remains. Here's what changes for Estonian OÜ owners.