2,121 plain-English guides on cross-border moves, US and Canadian returns, and small-business money. Each one ends in what to do next, and says when a written Diagnostic is the smarter first step.
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Businesses must file 1099-NEC for payments of $2,000+ to independent contractors in 2026 ($600+ for 2025 payments). 1099-MISC for rent, royalties, and other payments.
Small Business & BookkeepingForm 3115 changes your accounting method. A negative Section 481(a) adjustment is deducted in full in the year of change; a positive one spreads over 4 years.
Small Business & BookkeepingChanging an accounting method, like cash to accrual or a depreciation fix, takes Form 3115 and usually a 481(a) adjustment. How automatic consent and the spread work.
Small Business & BookkeepingFranchise fees paid to a franchisor are treated differently for tax purposes depending on whether they are initial fees or ongoing royalties.
Small Business & BookkeepingCertain fringe benefits are deductible by the business and tax-free to the recipient. Fringe benefits are compensation paid in a form other than cash.
Small Business & BookkeepingThe tax code provides a list of fringe benefits that employers can provide to employees tax-free (excluded from the employee's gross income) under IRC 132.
Small Business & BookkeepingA working condition fringe is anything your employee could deduct if they paid for it. A de minimis fringe is too small to track. Examples of each, and what doesn't count.
Tax PlanningThe general business credit under IRC 38 is not a single credit but an aggregation of over 30 individual business tax credits.
Small Business & BookkeepingBusiness gifts are deductible up to $25 per recipient per year under IRC 274(b). This limit has not been adjusted for inflation since 1962.
CFO & AdvisoryThe gift tax under IRC 2501-2524 applies to transfers of property for less than full consideration. 2025 gift tax numbers.
Small Business & BookkeepingFreelancers and gig workers face self-employment tax, quarterly estimated payments, and deduction tracking that W-2 employees never deal.
Small Business & BookkeepingUnder IRC 280G, when a corporation undergoes a change in ownership or control and makes 'excess parachute payments' to certain officers, shareholders.
Tax PlanningSelf-employed business owners can deduct health insurance premiums as an above-the-line deduction. Health insurance is one of the largest personal.
Tax PlanningSelf-employed business owners can deduct health, dental, and vision insurance premiums for themselves and their families as an above-the-line deduction.
Tax PlanningSelf-employed business owners can deduct health insurance premiums as an above-the-line deduction on Form 1040 (not on Schedule C).
Tax PlanningHSAs offer a triple tax benefit: tax-deductible contributions, tax-free growth, and tax-free withdrawals for medical expenses.
Tax PlanningHSAs provide a triple tax benefit: tax-deductible contributions ($4,300 individual, $8,550 family in 2025), tax-free growth.
Small Business & BookkeepingHiring children to work in a family business is one of the few strategies that creates a deduction for the parent while generating tax-free income.
Small Business & BookkeepingHiring your child (under 18) in a sole proprietorship or partnership saves FICA (15.3%) and shifts income to the child's 0% bracket.
Tax PlanningHiring family members in a small business can produce significant tax savings when structured properly. Family employment payroll tax exemptions: |.
Small Business & BookkeepingHiring the first W-2 employee triggers new tax obligations: payroll taxes, withholding, workers' comp, unemployment insurance.
Small Business & BookkeepingHiring your first employee triggers employer tax obligations: Form 941 quarterly, FUTA (Form 940), state unemployment, workers' comp, and W-2 filing.
Small Business & BookkeepingHiring a spouse as an employee creates access to employer-sponsored health insurance, doubles retirement plan contributions.
Small Business & BookkeepingThe Work Opportunity Tax Credit (IRC 51) provides employers a credit of up to $9,600 per qualified veteran hired and $2,400-$9,000 per hire.