My personal tax cpa logo.
Request A Quote

Small Business & Self-Employed

Two people in business attire sit at a table, reviewing documents together. A contract, clipboard, pen, and IRS Form 8832 are visible in the foreground

IRS Form 8832: Understanding Entity Classification Election for Businesses

Small Business & Self-Employed, Tax Corner I Blog

IRS Form 8832 allows you to choose how your business is classified for federal tax purposes, such as a corporation, partnership, or disregarded entity. This election can have a significant impact on your tax obligations and filing requirements with the IRS, so understanding your options is crucial for effective planning and compliance. If you operate […]

IRS Form 8832: Understanding Entity Classification Election for Businesses Read More »

A man stands in a sunlit workshop, writing on a clipboard—perhaps making notes on choosing Form 2553 and S-Corp Election—beside a large worktable with tools and potted plants on the window ledge behind him.

Form 2553: Essential Steps for Small Business Tax Election

Small Business & Self-Employed, Tax Corner I Blog

Navigating the world of business taxes can be daunting, but understanding the basics of IRS Form 2553 can provide significant tax benefits for your small business. Tax form 2553 is the key to electing S corporation status, allowing your business to be recognized under Subchapter S of the federal tax code. This election can lead

Form 2553: Essential Steps for Small Business Tax Election Read More »

Two women are at a desk; one seated on the phone with a laptop, while the other stands and points at a document. They appear to be discussing the differences between W-2 employees and 1099 contractors. Shelves filled with books and plants set a backdrop to their conversation.

Understanding W-2 Employees vs. 1099 Contractors: What Are The Differences and Business Implications

Small Business & Self-Employed, Tax Corner I Blog, Tax Law Updates

Navigating the world of employment classifications can often be complex, especially when distinguishing between W-2 employees and 1099 contractors. The main difference lies in the level of control you have over their work and the nature of your relationship. A W-2 employee typically operates under your direct supervision, adhering to set schedules and using your

Understanding W-2 Employees vs. 1099 Contractors: What Are The Differences and Business Implications Read More »

A person in a suit diligently calculates the Solo 401k tax credit for new enrollments, carefully entering figures onto a spreadsheet.

Solo 401k Tax Credit for New Enrollments: Maximizing Your Retirement Benefits

Small Business & Self-Employed, Tax Corner I Blog, Tax Credits & Deductions

When considering a Solo 401k plan, you’re not just investing in your future; you’re also potentially unlocking valuable tax benefits. The Solo 401k tax credit for new enrollments provides an attractive incentive for self-employed individuals and small business owners seeking to boost their retirement savings. Under the new rules, eligible employers can claim a start-up

Solo 401k Tax Credit for New Enrollments: Maximizing Your Retirement Benefits Read More »

When Are LLC Taxes Due 2024: Essential Dates & Filing Tips for Business Owners

Small Business & Self-Employed, Tax Corner I Blog

As a business owner, doing your business taxes can be one of the most difficult and stressful aspects of your job. Questions like when are LLC taxes due, what must you do to prepare for tax deadlines, whether and how much you owe in quarterly tax payments and how to file a tax extension are

When Are LLC Taxes Due 2024: Essential Dates & Filing Tips for Business Owners Read More »

DC FR-500: How to Register a Business in Washington DC

Small Business & Self-Employed, Tax Corner I Blog

Are you starting a new business in Washington, D.C.? The District of Columbia requires businesses to complete registration and licensing processes, including submitting Form FR-500, otherwise known as the Combined Business Tax Registration Application. This document allows businesses to register with the Office of Tax and Revenue (OTR), securing their tax identification numbers and ensuring

DC FR-500: How to Register a Business in Washington DC Read More »

A plant-adorned desk displaying a laptop, perfect for content creators managing their taxes.

Taxes for Content Creators, Freelancers, and Influencers

Tax Corner I Blog, General Tax Insights, Small Business & Self-Employed

As a content creator or freelancer, managing your taxes can seem daunting, but with the right strategies and knowledge, it can be manageable. Here are some tips for staying on top of your taxes and keeping more money in your pocket. 1. Keep Records The first step in managing your taxes is keeping track of all your revenue

Taxes for Content Creators, Freelancers, and Influencers Read More »

Scroll to Top