As Margaret Mitchell (author of Gone with the Wind) once said, “Death, taxes, and childbirth. There’s never a convenient time for any of them.” But there’s a convenient time to learn how to file LLC taxes—like now for instance! Especially if you’ve recently started or are lookin...
LLCs file taxes under their default designation. But if you'd prefer to have your LLC taxed like a corporation,you can change its tax statusby filing a form with the IRS. It can also re-form as a partnership or proprietorship if the LLC adds or loses members. Knowing how to file busi...
Anyone who considers themselves self-employed is responsible for saving enough money to pay their taxes; however, there are a variety of exceptions for different circumstances. Key Takeaways: If you’re self-employed, you'll need to file taxes throughout the year, typically via ...
Most businesses are expected to make estimated tax payments on a quarterly basis. Employers are also required to file Form 941 quarterly. Four months + 15 days after the fiscal year. Small businesses who use their own fiscal calendar must file taxes by day 15 of the fourth month after the ...
How to file business taxes When you file a federal income tax return for your small business, the way that you do it depends on how you’ve structured the business. If you run it as a Sole proprietorship or single-member limited liability company (LLC), you’ll typically report all of ...
Taxes for bloggers should be handled as if you're running a small business. Here's my detailed guide on how to do taxes on blog income (and blog tax tips).
Self-employed taxpayers likely need to pay quarterly tax payments and meet key IRS deadlines. Here’s a closer look at how quarterly taxes work and what you need to know when filing your tax returns.
You will get a tax refund if you overpaid your quarterly taxes during the year. Do I need a 1099 to file self-employment taxes? You don’t necessarily need a Form 1099 to file self-employment taxes. If you’re paid at least $600 from one source of self-employment income, you’re su...
How to file taxes for a new side gig Regardless of whether you paid quarterly taxes when tax season rolls around, there are some things you need to prepare before you file. 1. Track your income First things first: Track your side gig income throughout the year. If you worked a side gi...
To better understand how this works, we will look at two individuals who file their taxes in the single bracket and how much tax they will have to pay. Keep in mind that this is not taking any possible deductions into account; instead, it is just talking about their income and how it ...