Tax Tips

Get a handle on vehicle-related deductions and reduce your tax bill. In this article, we simplify the process, outline eligible deductions and essential criteria. By the end, you'll be equipped to drive your small business finances with confidence.

Self-employed? Here’s a list of the common tax deductions to take advantage of.

This guide explains 2025 partnership tax deadlines, including the March 17 filing date, extensions, and quarterly payments. Stay compliant, avoid penalties, and file with ease.

Aruba, Jamaica, oh I want to take you because it's tax deductible. That is, if it's considered travelling for business.

The Work Opportunity Tax Credit (WOTC) is a tax break worth exploring for businesses that want to hire people who often face significant barriers to employment. Since this credit will expire in 2025, now’s a good time to learn what it is, how it works, and how it can help you grow your team while saving money.

Tips for positioning your business to adapt to potential changes brought about by the incoming 2025 Trump administration.

Save money this tax season with the sales tax deduction. Find out who qualifies and how to claim it to put extra cash in your pocket.

If you own a residence, rental or business space you’re responsible for paying property taxes. In this article we dig into how to properly claim property tax deductions.

Either a tax professional or a certified public accountant can help with your taxes, but which one is right for you?

The self-employed health insurance deduction is a tax benefit that helps people who own a business pay for health insurance. Claiming the self-employed health insurance deduction involves several steps, but it's pretty straightforward once you understand the process. Let's show you how.

Curious if you can write off tax preparation fees? Discover what’s deductible for your business and how to save more when it’s time to file.

The cost of tax preparation varies based on the complexity of your tax return, the experience of the tax professional, and the amount of tax services you seek. Of course, every business is different so in this article we’re diving into what affects tax preparation costs, how to lower those fees, and what to look for in selecting a preparer.

Learn how to find a tax advisor to maximize tax savings and navigate complex tax laws. Receive expert guidance tailored to your unique financial needs & goals.

An at-a-glance tax deadline resource for C corporations and LLCs electing to be taxed as corporations.

Wondering whether your business needs a tax advisor? Learn what they do, how much they cost, and how to find a great one.

Understanding your tax deductions as a therapist significantly impacts your taxable income and overall tax burden. By taking advantage of available deductions and maintaining accurate financial records, you can minimize your tax liability and reinvest more money into growing your practice and skills.

If you missed filing a previous year’s tax return, don’t count on the IRS forgetting about it. There are several reasons to file your tax return retroactively.

There are multiple ways to file your tax return, from free tax filing software to professional tax preparation.

Understanding tax deductions for real estate agents can significantly reduce your taxable income. Learn more about real estate agent tax deductions with Bench.

Where there’s revenue, there are taxes—and understanding how to manage your taxes as a content creator is crucial to maintaining your livelihood and avoiding potential legal issues. In this comprehensive guide, we'll walk you through the essentials of taxes for content creators, how to file them, and other tips to make your life easier.

No one knows more about taxes than enrolled agents. Here’s how to hire one.

An SFR is the IRS’s way of filing a tax return on your behalf when you haven't done so yourself. The IRS uses only the income information they have on file, such as W-2s, 1099s, K-1s, and other income documents reported to them by third parties. While this might seem helpful, it has a serious downside.

A taxpayer in non collectible status cannot be collected on by the IRS. This guide walks through criteria for applying and how to get in CNC status.

Innocent spouse relief relieves you of tax burdens resulting from an error in a married joint filing tax return when specific conditions are met. Find out more and how to apply in our guide.

Find out how the IRS can withdraw funds and what you can do to prevent it. Learn about your rights and steps you can take to stop IRS bank account seizures.

Both the Democratic and Republican candidates for president have pledged to make certain changes to the tax code that will affect small business owners. Here’s a look at the changes both Harris and Trump have proposed.

Many businesses are still waiting to receive payouts from the Employee Retention Tax Credit (ERC), a pandemic-era tax credit designed to assist qualified employers who paid wages to employees between March 12, 2020 and Jan. 1, 2022. 

Learn key tax planning strategies and tips to help you maximize your small business profits. From understanding the impact of different business entities on tax liability to practical examples of tax-saving tactics, this guide provides valuable insights for entrepreneurs.

Don’t drown in the IRS website—read our plain-language guide to filing your small business taxes.

With thousands of scams being committed in the name of debt collecting, it's crucial to know how to quickly distinguish a legal debt collector from a scammer. Here, we look at how one can determine whether the collector in question might be a scam, how to tell if a debt collector is legitimate, and what essential steps to take if you think you've fallen victim to a scam.

Finding the right tax attorney requires one to do some homework.

The IRS saying you owe back taxes might seem like the stuff of nightmares, but take a deep breath. Whether you’ve just received a notice from the IRS or have been putting off your payments for a while, there’s a clear path forward. The best way to pay off tax debt is to do your bookkeeping so you know exactly how much you owe—and to properly implement tax credits and deductions.

Good news! You don’t need a degree to figure out how much tax your small business owes. We’ll show you how.

Worried about your tax bill? In this article we cover how those with tax liabilities under $50,000 can tackle their IRS payment plans online, by phone or mail.

If you’re in a partnership, the IRS won’t accept your tax return unless you also attach Schedule K-1 of Form 1065. Here’s what it is, and how to file it.

A federal tax lien is the government's legal claim against your property when you don’t pay the taxes you owe. Federal tax liens apply to all assets, including real estate, personal property, and financial accounts. They ensure that the government gets paid before other creditors if you sell your property.It might sound scary, but there are ways to address it.

Everything you need to know about filing 1099s.

Filing deadlines can creep up on you. Take a few minutes to save these 2024 tax filing deadlines to your calendar, and stay ahead of the IRS this year.

You've heard of "spend money to make money," but what about "spend money to save money"? That's the case with tax deductions and you won't want to leave any on the table.

Here’s what you need to know about itemized deductions, the standard deduction, and how to choose between them when preparing your tax return.

If you own an S corp or share ownership in one with others, you can expect to receive Form 1120S K-1 at the end of the year.

Confused about Form 1040? You’re not alone. Here’s a clearer look at how to file your income tax this year.

IRS penalties and interest begin accruing immediately if you do not file your LLC tax return. But the good news is that you can return to good standing by filing back taxes and paying your tax obligation.

The standard deduction is an easy way to save on taxes, but it's not for everyone. We have everything you need to know before choosing to take it.

W-9 is the form you use to send people your Taxpayer identification number (TIF). Here’s how to fill it out properly.

Many people are unaware that they don't need receipts to claim common tax deductions. Here are some of the most common ones business owners can make without a receipt.

Effective strategies for managing back taxes including IRS solutions, payment plans, and ways to reduce your tax liability.

Here's what you need to know about the differences between Form W-9 and Form 1099 so you can stay on top of your tax responsibilities.

A simple guide to state taxes for small businesses in California. We break down the different state taxes your business may be required to pay, and how much they’ll cost you.

If you are a contractor or hired a contractor, it's time to get familiar with Form 1099-NEC. Here's everything you need to know about this change.

Tax time can be confusing for rideshare drivers. We break it all down and give you exactly what you need to file your tax return.

Discover how IRS Form 944 offers an annual tax filing option for small businesses with less than $1,000 in withheld taxes, simplifying employee tax reporting.

Having to calculate and pay estimated quarterly taxes four times a year may seem like a chore. But it can actually ease your burden come tax time.

While aimed at cracking down on money laundering and illicit finance, small businesses argue the Corporate Transparency Act places an undue burden on them.

Learn to fill out IRS Form 433-D for setting up Direct Debit Installment Agreements. We cover the essentials: required documents, application steps, and how to submit your form for automatic tax payments.

Discover what you need to know about reporting mortgage interest the advantages of filing and important due dates. Stay compliant and maximize deductions.

Our detailed guide to Form 843 shows you how to get out of IRS penalties and interest. Find out when and how to use this form effectively.

This manual offers advice on filling out and rectifying W 2 forms to adhere to regulations and prevent penalties. For companies managing staff tax documentation.

File IRS Form 8300 within 15 days of receiving cash over $10,000 to report transaction details and payer information, ensuring compliance and avoiding penalties.

Anxiously awaiting a tax refund? Here’s the fastest way to check the status with the IRS.

Form 2210 Explained: Calculate and address underpayment of estimated taxes for individuals and businesses, outlining penalty calculations and waiver options.

IRS Form 8821 Guide: Authorize tax info access without representation for loans or checks. Details personal/business tax data sharing. Clarifies form filing steps and access limits.

Here’s a list of small business tax deductions commonly available to entrepreneurs. Check it twice, and make sure you’re claiming everything you can.

IRS Form 2848 made easy: Discover how to effectively grant power of attorney for tax matters, ensuring compliance and control in your financial affairs.

Learn to file and issue IRS 1099-MISC form for rents, royalties,and healthcare payments, including instructions and thresholds.

If you file your taxes after the due date, you can expect IRS penalties.

Master IRS Form 3520 with our expert advice on reporting foreign gifts and inheritances, electronic filing, and crucial deadlines.

Explore tax saving strategies with our guide on repair and maintenance deductions! Identify eligible expenses, optimize your claims, and elevate your tax savings. Empower yourself with expert advice to navigate tax deductions efficiently.

Go green, save big! Unlock up to $40,000 in tax credits with the Commercial Clean Vehicle Tax Credit. Navigating the rules might seem tricky, but our simple guide breaks down the steps, from picking the right vehicle to maximizing state incentives.

If you're self-employed, you'll need to fill out Schedule C at tax time. Here's a simple guide to doing that.

Once your tax return has made it from your hands to the hallowed halls of the IRS, all you have to do is wait—for your refund, if you’re owed one, or for any notifications of errors or miscalculations. So what’s happening at the IRS during this time? Let’s take a look at the post-filing journey of your tax return, from the moment you file to when it’s been fully processed. ‍

In this article we explain the difference between tax code and tax rate, emphasize the role of tax professionals, and discuss recent changes affecting small business tax deductions and credits.

Missed your tax deadline? Don't panic. Read this guide for what to expect and how to move forward.

No two LLCs are alike—they can even have different tax filing deadlines.

Writing off meals and entertainment for your small business can be pretty confusing. It all depends on the purpose of the meal, and who benefits from it.

Run a sole proprietorship? Here's everything you need to know about filing your taxes.

In addition to income taxes, online sellers must collect and remit sales tax. Learn how taxes apply on Amazon sellers and other ecommerce businesses.

Keep your S corp tax filing stress-free with this introduction to Form 1120S.

Dive into rental income tax, property deductions, and landlord write-offs. Understand rental revenue, tax returns, and home improvement deductions to optimize rental investments.

Choosing between the standard and itemized deduction is a big choice small business owners make every tax filing. We've got the low down on what they are and how to choose between them.

A step-by-step walkthrough on how to fill out Form 8829 for home office expenses.

For select businesses, easy tax savings are just one form away. Rather than figure out how to take advantage of this on your own, check out our simple guide.

Need some extra time to file your federal tax return? You can ask the IRS for a six-month extension using Form 4868.

Filing for an extension of time to file your state tax return can be a tricky process. Every state has different filing requirements.

Here are the IRS tax brackets for 2023, how they work, and why they keep changing.

An industry-by-industry guide to lowering your tax bill by maximizing the tax deductions available to you in 2023.

If you provide health insurance to your employees, don't miss out on the tax credit. But you need to know Form 8941 to claim it.

If your business is incorporated as an LLC or a C corporation, you may be eligible for a special tax designation called "S corporation" that can help you save on taxes. Here's what you need to know if you want to become an S corp.

Miss your mom’s birthday? Get flowers. Miss the tax deadline? Read this.

Don't be blindsided by tax season responsibilities. In this guide, we give you all the tips for a smooth tax filing.

We've pinpointed the 8 most common financial challenges that small business owners face. With our expert insights, you'll not only recognize these pitfalls but also learn practical strategies to overcome them. Empower yourself with the knowledge to master tax season and fortify your financial future.

This comprehensive guide reveals how small businesses, known for donating 250% more to charities than larger corporations, can leverage these donations for tax deductions. Learn step-by-step how to deduct these contributions on your taxes, understand the importance of proper documentation, and explore the nuances of various types of donations.

Need more time to file your federal taxes? Here's the fastest way to get extension online.

The key to a low tax bill? Tax credits and deductions. Here are the ones you need to know to save your dollars this tax filing.

Every dollar in tax credits saves you a dollar on your taxes and can even turn your tax bill into a refund.

If you're self-employed, here are the taxes you need to pay.

Confused about small business taxes? Our simple guide is all you need.

If you hire employees and held onto some of their paycheck for tax payments, you’ll need to file Form 941. Here’s how to file it properly.

Small business owners, take note: The U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN) recently introduced a new rule, effective Jan. 1, 2024, that requires entities registered in or doing business in the U.S. to report their beneficial owners.

Learn the ins and outs of requesting a tax extension and avoid penalties. Find out how to ease tax season stress.