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The ERC program ended for new claims as of January 31, 2024. Businesses that already filed ERC claims should check their status through the IRS processing.
US TaxSmall businesses can offer tax-deductible benefits that cost less than equivalent salary increases: health insurance (100% deductible).
US TaxISO vs. NSO comparison: | Feature | ISO (IRC 422) | NSO | |---------|-------------|-----| | Tax at grant | None | None | |.
US TaxMisclassifying workers costs businesses back taxes, penalties, and interest.
US TaxFamily businesses can employ spouses and children with significant tax advantages: FICA exemptions for children under 18.
US TaxFamily businesses can employ spouses and children with significant tax advantages: FICA exemptions for children under 18.
US TaxEmployers must deposit federal employment taxes (income tax withholding, Social Security. Deposit schedule determination: | Lookback Period Liability |.
US TaxEmployment tax penalties are among the harshest in the tax code. Late payroll deposits trigger 2-15% penalties. Employment tax penalty tiers: Late deposit.
US TaxSmall businesses can claim tax credits for energy-efficient improvements under several provisions: the Clean Vehicle Credit (IRC 30D.
US TaxERC status as of 2025: 1. Moratorium on new claims. The IRS stopped processing new ERC claims filed after September 14, 2023.
US TaxThe IRS has paused processing of most new ERC claims and is auditing previously paid claims.
US TaxFor business owners, estate and gift tax planning is not just about minimizing the federal estate tax (which applies to estates exceeding the $13.99.
US TaxA business owner's company is often their largest asset, but without proper estate planning. Estate planning tools for business owners: | Tool | What It.
US TaxThe federal estate tax exemption is $13.99 million per person in 2025 ($27.98 million per married couple). Estate tax fundamentals for business owners.
US TaxThe federal estate tax exemption is $13.61 million per person (2024) but is scheduled to drop to approximately $7 million in 2026.
US TaxEstate tax planning is critical for business owners because a closely held business is often the largest asset in the owner's estate.
US TaxNew LLC owners have no prior-year tax liability, which means the usual 100% safe harbor is $0. First-year estimated tax for new LLCs: 1.
US TaxThe IRS assesses estimated tax underpayment penalties when quarterly payments fall short.
US TaxFirst-year business owners have no prior-year tax liability, making the prior-year safe harbor the easiest penalty-free strategy.
US TaxThe estimated tax penalty (7-8% annualized in 2025) is fully avoidable using one of three safe harbors: prior-year (100%/110% of last year's tax).
US TaxThe IRS charges an estimated tax penalty (Form 2210) when quarterly payments fall short.
US TaxThe estimated tax underpayment penalty is calculated on Form 2210. It applies quarter-by-quarter based on the IRS's short-term interest rate.
US TaxThe estimated tax underpayment penalty is approximately 8% annualized (2024-2025). It applies per quarter, not per year.
US TaxThe IRS imposes penalties for underpaying estimated taxes, but two safe harbors provide complete protection. The two safe harbors: Safe Harbor 1: Prior-year.