Tax• 3 min read
What Is Depreciation? A Small Business Guide
Depreciation spreads the cost of long-lived assets over time. Here is what it means for your books and taxes, and the records to keep.
Resources
Tagged: IRS
Tax• 3 min read
Self-Employment Tax Explained
If you work for yourself, you generally pay Social Security and Medicare tax through self-employment tax. Here is how it works.
Tax• 3 min read
Travel and Meal Expenses: What Records to Keep
Travel, meals and transportation have specific recordkeeping rules. Here is what the IRS covers and what records to keep.
Tax• 3 min read
Owner Draw vs Salary: How Business Owners Pay Themselves
Whether you take a draw or a salary depends on your business structure. Here is how each works and how to record it correctly.
Payroll• 3 min read
Payroll Tax Deposits: The Basics for New Employers
Employers must deposit withheld and employer payroll taxes on a schedule. Here is how deposits work and how to keep them on track.
Payroll• 3 min read
Form 1099-NEC Basics for Small Businesses
If you pay independent contractors, Form 1099-NEC may apply. Here is what it reports, how W-9 fits in and how to keep year-end simple.
Tax• 3 min read
Home Office Deduction Basics
Working from home may qualify for a deduction, but only if IRS requirements are met. Here are the basics and the records to keep.
Tax• 3 min read
How to Get an EIN for Your Business
An EIN identifies your business to the IRS. You can get one free, directly from the IRS. Here is when you need one and how to apply.
Bookkeeping• 3 min read
Cash vs Accrual Accounting: Which Method Fits Your Business?
The cash and accrual methods record the same transactions at different times. Here is how they differ and what that means for your reports and taxes.