What Is the Alternative Minimum Tax?
The alternative minimum tax is a parallel individual income-tax calculation that limits or reverses specified preferences and adjustments before applying an exemption and AMT rates.
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Practical financial guides for small business
Get direct, useful answers about bookkeeping, reporting, payroll, taxes, hiring, pricing, and accounting systems. Filter the library by topic or format to find the guide you need.
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What Is the Benefit of an S Corp vs. an LLC?
An LLC is a state-law entity, while S corporation is a federal tax election. An eligible LLC can keep its legal form and elect S treatment, so the comparison is not either-or.
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What Is the IRS Mileage Allowance?
The IRS business mileage allowance is an optional rate used to calculate deductible or substantiated vehicle costs; in 2026 it is 72.5 cents per mile through June 30 and 76 cents per mile from July 1.
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What Is the LLC Tax Rate?
An LLC has no single federal tax rate. Its federal income-tax treatment depends on the number and type of owners and any election to be taxed as a corporation or S corporation.
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What Is the Small Business Tax Rate?
There is no universal small business tax rate because the total depends on entity classification, taxable profit, owner facts, payroll or self-employment tax, states, deductions, and credits.
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What Is Trucking Book Keeping?
Trucking bookkeeping is ordinary bookkeeping plus three things that generic providers routinely get wrong: settlement statements, fuel data, and per-truck reporting. Each one is recoverable if handled monthly and expensive to reconstruct if it is not.
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What Is Virtual Bookkeeping? Workflow, Controls, Cost, and Fit
Understand virtual bookkeeping scope, document exchange, system access, reconciliations, close, security, pricing, onboarding, and provider fit.
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What to Do in an Audit Without Receipts
Missing receipts do not automatically end an audit response, but the taxpayer must reconstruct reliable evidence and cannot invent documents, amounts, dates, or business purposes.
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When Are LLC Taxes Due?
An LLC does not have one universal federal tax deadline. Due dates follow its federal tax classification, tax year, owners, payroll, information returns, excise activity, and state registrations.
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When Do You Have to File a W-2?
For 2026 wages, employers generally must furnish Form W-2 to employees and file Copy A with Form W-3 with the Social Security Administration by February 1, 2027; employees then report all W-2 income on their tax return.
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When Is Sales Tax Due? A Multistate Guide
Sales tax is due according to the registration and filing frequency assigned by each jurisdiction. Monthly, quarterly, annual, prepayment, zero-return, weekend, portal, and local rules vary, so a multistate business needs an account-level calendar.
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When Is the S Corporation Election Deadline?
Form 2553 is generally due no more than 2 months and 15 days after the beginning of the tax year the S election will take effect, or at any time during the preceding tax year.
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When to Hire an Accountant: Triggers, Scope, and Selection
Know when to hire an accountant for close, adjustments, statements, tax coordination, controls, growth, financing, cleanup, and decision support.
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Where Do You Send Forms 1099?
A Form 1099 may go to the IRS, the recipient, a state tax agency, and the payer's files. The correct destination depends on form type, tax year, electronic or paper method, payer location, state rules, and whether the filing is original or corrected.
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Where to File Form 1099-MISC
Form 1099-MISC can be filed electronically through an approved IRS channel or, when paper filing is permitted, mailed with Form 1096 to the current address selected from the payer's location.
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Where to File Form 1099-NEC
File Form 1099-NEC with the IRS, furnish the recipient copy to the payee, and complete any required state filing. The IRS electronic destination is IRIS; permitted paper batches use official Copy A with Form 1096 and the current IRS address.
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Woocommerce Xero: A Beginner’s Guide
Connecting a store to accounting software can reduce rekeying and support bank reconciliation. Common failures include an unsuitable level of detail, incomplete mappings, and net deposits that obscure fees, refunds, tax, or timing.
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Work Opportunity Tax Credit: 2026 Status
As of July 2026, the federal Work Opportunity Tax Credit does not cover a new employee who begins work after December 31, 2025 unless Congress extends the hiring date. Certified eligible pre-2026 hires may still affect open returns or carryforwards.
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Writing Off Taxes: A Beginner’s Guide
A tax write-off is a deduction allowed under the applicable tax rules; it reduces taxable income, not the purchase price dollar for dollar and not necessarily the final tax by the same amount.
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