364 plain-English guides on us tax, each one ending in what to do next.
Page 5 of 16, newest first.
Rental income is passive income subject to unique tax rules: depreciation shelters current income. How rental income is taxed: - Gross rental income minus.
US TaxDeductible rental expenses (Schedule E, Part I): - Mortgage interest: The full amount of interest paid on the loan for the rental property.
US TaxShort-term rentals (average stay under 7 days) may not be classified as passive rental activity. The classification depends on services provided: Passive.
US TaxThe S-Corp election (Form 2553) must be filed by March 15 of the year it takes effect, or within 75 days of forming a new entity.
US TaxThe self-employment tax calculation starts with net profit from Schedule C (or the partner's share of partnership income).
US TaxStaffing agencies benefit from the S-Corp election at lower profit levels than most businesses because their high W-2 wage bills support the QBI.
US TaxFranchise staffing agencies (Express Employment, Spherion, Adecco franchisees) have specific tax treatment for the franchise fee, ongoing royalties.
US TaxStaffing agencies that place workers in multiple states must comply with each state's payroll tax, workers' comp, and unemployment insurance requirements.
US TaxA staffing agency owner cannot use the Solo 401(k) (too many employees). The main options are SEP IRA (uniform percentage.
US TaxStaffing agencies have unique tax considerations because they employ the workers they place at client sites. The primary deductions for staffing agencies.
US TaxWorkers' compensation is typically the second-largest cost for staffing agencies after payroll. Workers' compensation insurance is required in almost every.
US TaxTree service businesses have heavy equipment costs: bucket trucks ($50,000-$150,000), chippers ($15,000-$50,000), stump grinders ($5,000-$30,000).
US TaxTree service businesses are NOT SSTBs and qualify for the full QBI deduction. Entity structure comparison for tree service: Sole proprietorship /.
US TaxTree service revenue peaks March through November with near-zero work in northern winters. Tree service seasonal tax planning: Northern market seasonality.
US TaxTree service crew members are almost always employees under IRS and DOL tests. Why tree service crew members are employees: Behavioral control (IRS.
US TaxVending machines are 7-year MACRS property eligible for bonus depreciation. COGS (product inventory) runs 40-55% of revenue.
US TaxVending machine businesses are NOT an SSTB. Machines depreciate over 7 years (or 100% bonus in Year 1). Entity structure comparison for vending machine.
US TaxEstimated tax planning for vending operators: - Year 1 with equipment purchases: bonus depreciation likely creates an NOL.
US TaxWeb developers and software engineers deduct computers, monitors, software subscriptions, home office costs, internet, and professional development.
US TaxWeb development, software development, and IT consulting may or may not be SSTBs depending on the nature of the work. NOT an SSTB (full QBI available at any.
US TaxThe total estimated tax rate for freelance developers is typically 25-40% of net profit, depending on income level. This.
US TaxFreelance web developers with no employees can contribute up to $72,000/year to a Solo 401(k). 2026 Solo 401(k) contribution limits: - Employee deferral.
US TaxWeb development agencies that hire freelance developers must correctly classify them. Factors that support CONTRACTOR classification for freelance.
US TaxWelding businesses have substantial equipment costs ($5,000-$50,000 for machines. Welding business deductions by category: Major equipment (Section 179 /.