Category: Small Business Tax

Working for yourself means taking responsibility for your own retirement savings. Without an employer automatically enrolling you in a retirement plan, it is easy to focus on business expenses and leave retirement planning for later. Self-employed people have several retirement account options, including a SEP IRA, solo 401(k), SIMPLE IRA, and personal traditional or Roth…

A vehicle can be one of the most useful tax deductions for a small business owner. If you use your car, truck, SUV, or van for business, you may be able to deduct qualifying vehicle expenses or business mileage on your federal tax return. But there is an important distinction between business driving and personal…

Working from home has become common for small business owners, freelancers, independent contractors, and self-employed professionals. If you regularly use part of your home for business, you may be able to claim a home office deduction on your federal tax return. The rules are more specific than simply having a desk at home. The IRS…

Running a small business creates many expenses throughout the year. If you operate an LLC, you may be able to deduct qualifying business expenses when calculating your taxable business income. Understanding LLC tax deductions, small business write-offs, deductible business expenses, and IRS business expense rules can help you avoid missing legitimate deductions while also avoiding…

One of the biggest surprises for someone starting a small business is discovering that there may be no employer withholding taxes from their income. Instead, the business owner may need to make estimated tax payments throughout the year. This applies to many sole proprietors, independent contractors, freelancers, gig workers, and some LLC owners. The IRS…

Running a small business comes with plenty of expenses. The good news is that many ordinary and necessary business costs may be deductible, but knowing what you can actually claim—and keeping the right records—is where things get important. What Makes a Business Expense Deductible? A business expense generally needs to be connected to operating your…

Running a small business means keeping track of much more than sales and expenses. Small business taxes can include federal income tax, self-employment tax, estimated tax payments, payroll taxes, state taxes, and other tax obligations depending on how your business is organized. Understanding the basics of small business taxes in 2026 can make tax filing…