Small Business Basics guides
Federal paperwork and tax basics for sole proprietors and small employers: EINs, business structures, estimated taxes, payroll forms and deadlines, 1099s, deductions, retirement plans and the 2026 and 2027 figures. Built from IRS, SSA and other official sources. General information, not tax advice.
- Home Office Deduction Basics: Who Qualifies, and Simplified vs. Regular Method
The IRS tests for deducting a home office, how the $5-per-square-foot simplified method compares with the regular method, and the records to keep.
- Passwords and Multifactor Authentication for a Small Business: A Practical Setup
CISA's guidance on strong passwords, password managers and multifactor authentication, turned into a one-afternoon setup plan for a small team or home office.
- Business Email Compromise: How Payment-Redirect Scams Work and How to Stop Them
Business email compromise caused about $3 billion in reported losses in 2025, according to the FBI.
- How Long to Keep Business Records (and How to Dispose of Them Safely)
The IRS retention periods in plain English, which supporting documents to keep, how electronic records are treated, and how to wipe old drives and devices.
- How to Get an EIN for Your Business (Free, Straight from the IRS)
Who needs an Employer Identification Number, how to apply online for free, the online tool's hours and limits, and when you need a new one.
- Estimated Quarterly Taxes for the Self-Employed: Who Pays, When, and How Much
The IRS rules on estimated tax for sole proprietors and freelancers: the $1,000 test, the 2026 due dates, the safe-harbor percentages, and how to pay.
- Sole Proprietorship, LLC, S Corp or C Corp? Choosing a Business Structure
How the main U.S. business structures compare on liability, taxes and paperwork, based on SBA and IRS guidance, plus how LLC tax classification and S corp…
- Do Small Businesses Still Have to File a BOI Report? The 2026 FinCEN Update
FinCEN's August 2026 final rule permanently exempts U.S. companies from beneficial ownership information reporting.
- Paying Contractors: Form W-9, Form 1099-NEC and the New $2,000 Threshold
When a small business needs a W-9 from a contractor, when it must file Form 1099-NEC, the $2,000 threshold for 2026 payments, the January 31 deadline, e-filing…
- Form 1099-K Explained: The $20,000 / 200-Transaction Rule and What to Do with Yours
Who sends Form 1099-K, the current threshold for payment apps and online marketplaces, why card payments are reported at any amount, how to handle fees, refunds…
- IRS Mileage Rate 2026: 72.5 Cents, Then 76 Cents from July 1
The 2026 IRS standard mileage rates, including the midyear increase to 76 cents a mile for business driving, who can use the rate, the rules for choosing it, and…
- How to Register a Business Name: DBA vs. Entity Name vs. Trademark vs. Domain
The four ways to register a business name, what each one protects, when a DBA (assumed or fictitious name) is required, and the order most small businesses do it in.
- Self-Employment Tax Explained: The 15.3% Rate, the $400 Rule and the 2026 Wage Base
Who owes self-employment tax, how the 15.3% rate and 92.35% rule work, the $184,500 Social Security wage base for 2026 ($192,300 for 2027), the half-of-SE-tax…
- SEP-IRA vs. Solo 401(k) vs. SIMPLE IRA: Retirement Plans for the Self-Employed (2026 Limits)
The 2026 IRS limits for SEP-IRAs ($72,000), one-participant 401(k)s ($24,500 deferral plus employer contributions) and SIMPLE IRAs ($17,000), how each works for a…
- The $2,500 De Minimis Safe Harbor: Deduct Small Equipment Purchases Right Away
How the IRS de minimis safe harbor election lets a small business deduct items costing $2,500 or less per invoice or item instead of depreciating them, what it…
- How to E-File 1099s Free with the IRS IRIS Portal (Apply for Your TCC Now)
The IRS's free IRIS Taxpayer Portal lets small businesses e-file Forms 1099-NEC and 1099-MISC without paid software.
- Holiday Gifts for Clients and Employees: The IRS $25 Limit and Other Tax Rules
How much a small business can deduct for client gifts (the $25-per-person limit, incidental costs, the $4 imprinted-item exception), why gift cards to employees…
- 2026 Form W-2 Changes for Tips and Overtime: What Small Employers Report
The new 2026 Form W-2 items for the no-tax-on-tips and overtime deductions: box 12 code TP, code TT, box 14b occupation codes, what counts as qualified overtime…
- Hiring Your First Employee: The Federal Forms and Deadlines (I-9, W-4, New-Hire Report)
The federal paperwork for a first hire: Form I-9 timing (Section 1 by day one, Section 2 within 3 business days), Form W-4, collecting the SSN, state new-hire…
- Section 179 and 100% Bonus Depreciation in 2026: Expensing Equipment, in Plain English
The 2026 Section 179 limits ($2,560,000, phase-out over $4,090,000, $32,000 for heavy SUVs), the more-than-50% business-use rule, the business income limit, and…
- Business Meals Deduction: The 50% Rule, What Counts as Entertainment, and the Holiday Party Exception
What IRS Publication 463 says about deducting business meals: the 50% limit, why entertainment is not deductible, food bought separately at an event, the…
- W-2 and 1099-NEC Deadlines for 2026 Pay: Why the Date Is February 1, 2027
The January filing deadlines for small employers and businesses that paid contractors in 2026: Forms W-2 and W-3 to the SSA and employees, Forms 1099-NEC and…
- Form 941 Basics: Who Files the Quarterly Payroll Return, When It's Due and How Deposits Work
A plain-English guide to IRS Form 941 for small employers: what it reports, who files it (and who files Form 944 instead), the four due dates, the 2026 Social…
- Social Security and Medicare Numbers for 2027: $192,300 Wage Base, Maximum Tax and Other Limits
The Social Security Administration's official 2027 figures: the $192,300 taxable maximum (up from $184,500), the $11,922.60 maximum employee Social Security tax…
- 2027 HSA Contribution Limits: $4,500 Self-Only, $9,000 Family, and the New HDHP Minimums
The IRS's official 2027 health savings account numbers from Rev. Proc. 2026-24: $4,500 self-only and $9,000 family contribution limits, the $1,000 catch-up at 55…
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