Sole proprietorship taxes: Best tips and tricks for 2025 January 27, 2025 Self-employed How to register as a self-employed business owner: A step-by-step guide September 20, 2019 pricing strategy 14 pricing strategies to try in 2025 + how to pick one ...
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).
Discover how small business tax filing varies by business type. Learn the different methods to prepare and file your taxes, whether you're a sole proprietor, partnership, or corporation.
However, if you choose to set up your LLC to file taxes as an S Corporation , you might be able to reduce your tax bill by paying yourself a salary and protecting some of your business income from self-employment taxes. As the owner of a single-member LLC, you might end up paying a...
Taxes A single-member LLC and a sole proprietorship resemble each other in terms of tax treatment. Both are pass-through entities, which means that the business itself doesn’t pay income taxes. Instead business income is passed down to the owner. The owner reports business income on a Schedu...
If your LLC has no income, follow these steps to file yourbusiness taxes. Step 1: Confirm your LLC’s tax classification The first step in filing taxes for an LLC with no income is verifying your LLC’s tax classification. By default, a single-member LLC is considered a disregarded entity...
Ask your accountant these questions to potentially reduce your tax bill: Are there any local tax credits available? Does my business have nexus in other states? Would changing to an LLC structure benefit my business? 6. File your small business taxes Submit your taxes by the deadline to avoid...
A sole proprietorship is the simplest structure, where you report taxes on a Schedule C. An LLC is a legal designation to protect your personal assets but doesn’t change how you’re taxed unless you elect otherwise. Finally, an S-corp is a tax designation that can apply to various busine...
Death, taxes, and childbirth, always inconvenient and usually painful! But I hope this article has helped relieve some of the pain from filing your LLC taxes. And remember, the secret to a long happy relationship with the IRS is timely compliance, knowing your liabilities, and which tax forms...
If you live in the US, this step-by-step guide will help you file small business taxes well before they’re due. What are the most common small business taxes? Your business type determines which taxes you need to pay. Sole proprietors have different federal taxes than corporations with em...