Taxes

Guidelines for doing your business taxes, from what forms to file to the key tax terms you need to know.

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A Guide to Imputed Income and Fringe Benefits

Find out what imputed income is, see examples of taxable fringe benefits and learn how to determine benefit value in this guide for businesses.

Tax ID vs. Employer ID vs. ITIN

Find out if an EIN is the same as a tax ID by learning the difference between these and an ITIN. A firm grasp of these IDs is crucial for sound accounting.

State Tax SDI: Employer Responsibilities and Guidelines

Learn about the TDI/SDI taxes that are withheld from employees' paychecks. Which states impose this tax, how much is it each week and what does it pay for?

What Is Form 1042-S?

Learn about special tax reporting procedures when providing compensation to foreign workers. What is IRS Form 1042-S and how is it different from Form 1042?

New York State Disability Insurance (SDI) for Employers

Learn about the SDI New York law and how to ensure your company's compliance. Find out how the New York SDI tax impacts your payroll and human resources management.

What Is Form 5498-SA?

Get answers to common questions about IRS Form 5498-SA. Learn the purpose of Form 5498-SA, what information it contains and who's responsible for completing it.

Box 14 on W-2 Forms: A Guide for Employers

Find out about box 14 on W-2s. Learn about the IRS requirements for Form W-2 and box 14, and get instructions, including examples, for how to fill out box 14.

Employer's Guide to Understanding IRS CP-575 Form

Find out what IRS Form CP-575 is and what it means for your business. Learn why it's important to save it in a secure location and what to do if it's misplaced.

Net Operating Loss and How It Affects Your Business Taxes

Learn what net operating loss (NOL) is and how it affects small business taxes. This article also discusses how the CARES Act and TCJA affect NOL calculations.

Federal Unemployment Tax Act

What is FUTA? Understanding FUTA (the Federal Unemployment Tax Act) and how it applies to you as a small business owner is critical in the United States.

Payroll Tax Holidays

Learn how the payroll tax holiday may impact you throughout the rest of this year. If you participated, there may be implications to consider.

Understanding Form 5500: Compliance and Filing Guide for Employers

What is Form 5500? Get answers and find out if your company needs to file this form. Learn what information to include in a 5500 filing and how to avoid penalties.

What Does Tax Exemption Mean? A Guide for Employers

Read this guide to find out more information about what does tax exempt mean for your company, who might qualify and what employers are responsible for.

What You Need To Know About LLC Taxes

Learn how the IRS looks at your LLC taxes and what forms you need to submit. Being an individual or a limited partnership determines how your business is taxed.

What Is a W-3?

Learn what is a W-3 and why you need to file it if you have employees. These forms are important for your business accounting and this guide explains why.

When Your Employees Should Expect W-2s

Learn the answer to "When do W-2s come out?" to ensure you get your employees' W-2 forms completed and delivered by the deadline to avoid issues with the IRS.

EFTPS: Simplifying Tax Payments for Employers

Learn what the EFTPS (Electronic Federal Tax Payment System) is and how you can pay your federal taxes online for free.

An Intro to Tax ID Numbers for Small Businesses

Find out more about tax IDs and which ones you might need for your business.

Medicare Taxes: An Overview for Employers

Learn about deducting Medicare taxes from employee wages.

Qualified Business Income Deductions: Best Practices for QBID

Discover how the qualified business income deduction helps small businesses.

What Employers Should Know About the W-4 Form

Learn about your responsibilities as an employer for collecting and keeping W-4s.

Business Expense Categories: A Guide for Managers

Discover what exactly business expenses are, the requirements for a tax-deductible expense and some examples of the most popular expenses in business.

Understanding Fixed vs. Variable Expenses

Distinguishing between fixed expenses and variable expenses is important for calculating business revenue, budgeting and deducting costs on your taxes.

What Is the Definition of De Minimis in Business?

Learn about the importance of understanding the term de minimis and what it means for your business's tax preparation.

Donations for Tax Deductions: A Guide for Businesses

Learn everything you need to know about tax deductions for donations to make smart financial decisions for your business, including how to claim exemptions and how to choose a charity.

Payroll Software: Key Considerations Before You Pick

Learn the benefits of using payroll software for your business, discover which features to look for and review the top payroll software for small businesses.

What Is the Work Opportunity Tax Credit (WOTC)?

Learn about what the Work Opportunity Tax Credit is, the types of workers who are eligible and ineligible for this credit and tips to keep in mind when calculating these tax credits.

Taxes on Services: What Your Business Should Know

Whether you own a local shop or an online store, you could be subject to paying sales tax on your goods/services. Learn more about sales taxes, here.

Small Business Insurance: What Policies Do You Need?

Learn about the types of insurance that small businesses should consider.

Setting Per Diem Rates: Best Practices for Your Business

Per diems are an important method for compensating your employees during their travels. Learn more in this comprehensive guide.

What Is FICA? What Employers Should Know About FICA Taxes

Learn what FICA is and everything these contributions to Social Security and Medicare entail.

Payroll Taxes: A Guide for Employers

Learn what payroll taxes are, how to calculate net and gross pay, payroll tax deductions you must pay and your payroll tax responsibilities as an employer.

Small Business Accounting: Best Practices

Learn about best practices for accounting at your small business.

Balance Sheets: An Intro for Business Owners (With Examples)

Balance sheets can provide a layout for you to organize your companies finances and make adjustments to pay off liabilities or make use of assets.

What Is WACC and How Is it Calculated?

To understand the cost of the capital you've raised, using the WACC formula can provide the information. Learn more about WACC and how to calculate it.

Applying for an EIN: Steps to Take

Find out what exactly an EIN is, why and when you should apply for one, the steps of the application process and answers to FAQs regarding EINs.

Implications of the IRS Mileage Rate: What Employers Need to Know

Learn more about the 2023 mileage rates and use this tips to help you reimburse your employees.

Filling for a Tax Extension for Your Small Business

Learn about the importance of filing for a tax extension as a business, the types of forms you need and how to go about filing for an extension.

Investing in the Right Franchise

Learn what a franchise is and how to choose one to invest in.

How to Calculate Markup: Best Practices for Managers

Learn what markup is, factors to consider when calculating markup and tips to help your business calculate markup properly.

IRS Principal Business Codes: A Guide for Managers

Understand what an IRS principal business code is, why your business will need one and how it affects your business taxes.

What is a Federal Withholding Allowance?

As an employer, you're responsible for withholding income taxes from employees, but you may have an employee who is exempt. Here's what you should know about this status.

Prorating and Prorations: An Overview for Business Operators

If your business is acquiring a firm or shareholding partner, use this guide to understand the basics of proration and how prorating works.

What Is a Limited Liability Company (LLC)?

Starting a limited liability company is an easy way to protect your personal assets. Learn about what an LLC is and how to register for one.

Tax Break Options to Support Your Business During COVID-19

Here are some ways your business may be able to receive financial assistance with tax relief options offered by the federal government and SBA in response to COVID-19.

Business Expenses: Best Practices for Instituting These

Learn about business expenses, which ones to deduct and best practices for reporting.

What is Tax Abatement? A Guide for Business Operators

Learn about tax abatements and how businesses can qualify for them.

Profit Sharing: A Guide to Sharing Profits with Employees

Learn about profit sharing and what your business needs to consider.

What Is the Bottom Line in Business? A Guide for Managers

Learn about the bottom line, ways to increase a bottom line and some answers to frequently asked questions.

How to Set Employee Salaries

Salaried employees are those who receive a fixed amount of money for a specific period of time, regardless of the exact hours spent on a particular project or other specific work results.

Donating Office Furniture: Tips for Office Managers

Use this helpful guide to donate your office furniture to a charitable organization and qualify for a tax deduction.