Your small business taxes are based on the type and structure of your business. If you recently started a small business, you might be wondering which forms you need to file and what your tax obligations are as a business owner. Check out this small busi
Social Security taxes are used to provide income for eligible retired individuals over the age of 65, individuals with disabilities, and those who qualify for survivorship benefits. When you pay into Social Security, you are not paying into a personal Social Security account — you’re paying for...
As a small business owner, you are required to pay FUTA. As this is an employer tax, nothing is withheld from employees paychecks. Click here for information on FUTA Payroll Tax Deposits requirements. If you pay amounts on time, you are eligible to receive a FUTA tax credit. The ...
Most small businesses will need to file an annual income tax return for their business income. Every business needs to file a return based on their business entity type, which can be foundhere. It’s important to note that the federal income tax is a pay-as-you-go tax, meaning that you...
Do I need an accountant for my small business? By asking this question to yourself, you are already on the right path. An accountant is a necessity for the order of your business. As an entrepreneur, you are pulled in multiple directions and may lose track of time. On the other hand,...
Small business taxes may include federal and state income taxes, payroll taxes, excise taxes, and self-employment taxes. Tax funds are then used by federal, state, and local governments to pay for programs such as Medicare and Medicaid, Social Security, and public schools. ...
Block Advisors offers year-round online and in-person business services. With expertise in bookkeeping, payroll, & small business tax filing, we can help.
And now, I can pay someone to do my business taxes for me. The Hobby Pitfall If your small business hasn't been profitable for at least three of the past five years, it may actually be a hobby as far as the IRS is concerned. If it turns out you're running a hobby, your losses...
You also might enjoy these other tax tips from some of my tax-writing colleagues: J.K. Lasser 2025 Taxes Tax Savvy for Small Business 2025 Taxes, Accounting, and Bookkeeping3-in-1 Bible 2025 ~~~Don't Mess With Taxesis an Amazon Affiliate.If you click on the product links above ...
What kind of records do I need to keep for my small business tax return? Keep small business receipts, invoices, bank statements, payroll records, fees, and any other documents relating to your income or potential tax credits and deductions. ...