Small Business Tax Prep
Small business tax preparation can be challenging no matter how much experience you have. Whether you’ve just started your business or have been at it for a while, you can always find small business tax help at Block Advisors.
All small business tax prep articles
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With the March 15 Entity Filing Deadline Approaching, Businesses Could Save Up to 50% on Entity Tax Prep with Block Advisors
The deadline applies to S Corps, partnerships, and multi-member LLCs KANSAS CITY, Mo. (March 9, 2023) – As small businesses…
Small Business Tax Prep
Form 1065: What partners need to know to report income
Forming a partnership can have its advantages for your small business. It also means a different way of completing your…
Small Business Tax Prep
Form 8832: Electing how your small business is taxed
Choosing the right tax status for your small business is important. It can provide tax savings, or it can cost…
Small Business Tax Prep
Form 2553: Essentials for changing your business to an S Corp
Did you know your business structure can change at any time? So, even if you are an established business, you…
Small Business Tax Prep
Small business tax preparation 101: What to bring to tax appointments
If you’re on top of your small business expenses and other tax-related tasks, making an appointment with your tax professional…
Small Business Tax Prep
When are estimated tax payments due for small business owners?
Quick tip: If you’re a small business owner, mark your calendar after you find out your estimated tax due dates!…
Small Business Tax Prep
When Are W-2s Due This Year? What About 1099s?
At the beginning of each calendar year, employers must provide annual income statements to employees and non-employee workers so they…
Small Business Tax Prep
Sole proprietorship tax essentials
Running a business on your own is exciting. You get to follow your dreams and be your own boss. But…
Small Business Tax Prep
Small business tax deductions can trim your tax bill
One of the best ways to reduce your overall tax bill is through small business tax deductions. While some might…
Small Business Tax Prep
When are business taxes due?
While Tax Day is the only date some people may have on their calendar, there are actually many important business…
Small Business Tax Prep
What is a 1099-K? How to report 1099-K income on a tax return.
Alert: The IRS has announced a delay to the 2022 tax form 1099-K rule changes as outlined on this page. For tax…
Small Business Tax Prep
IRS Penalty Abatement: Automatic Penalty Relief for 2019 and 2020 Tax Returns
IRS Penalty Relief Introduction In late August 2022, the Internal Revenue Service (IRS) announced that certain individuals and businesses impacted…
Small Business Tax Prep
2022 Inflation Reduction Act & Taxes – What Business Owners NEED to Know
In August the Inflation Reduction Act, in part a new tax bill for 2022, was signed into law. The legislation…
Small Business Tax Prep
Does my vehicle qualify as a Section 179 tax deduction?
Many small business owners are pleased to learn that a vehicle they purchased for use in their company may qualify…
Small Business Tax Prep
How an LLC is taxed and what your options are
Considering setting up your business as a limited liability company (LLC)? Perhaps your business is growing and becoming more complex.…
Small Business Tax Prep
Writing off car expenses for business: Understand your options
Driving and maintaining a vehicle as part of your business can mean added car expenses. Luckily, you can offset those…
Small Business Tax Prep
Small business tax changes for 2022: What to expect
Whether you’re self-employed or a small business owner, your day-to-day tasks likely don’t include keeping up with small business tax…
Small Business Tax Prep
How long to keep business tax records
As a small business owner, your workspace may be filled with many forms, documents, and files… So much so, you’d…
Small Business Tax Prep
5 reasons to file small business back taxes
Small business owners have more complicated tax obligations than people who earn wages as employees. You have to account for…
Small Business Tax Prep
Small business tax rates: The complete guide
If you’re like most small business owners, you might struggle to understand this seemingly simple question: “What is the small…
Small Business Tax Prep
Self-employed health insurance deduction can help reduce taxes
Self-employed individuals take on a lot on their own – healthcare costs are no exception. Thankfully the self-employed health insurance…
Small Business Tax Prep
What to do if you can’t pay your business taxes
IRS business tax bills, at a glance: You can get help resolving the issue when you owe business taxes and can’t…
Small Business Tax Prep
Is business loan interest deductible? Get briefed on claiming this potential tax deduction
Questions around loans and interest deductions are common for small business owners. In fact, we’re often asked, “Are small business…
Small Business Tax Prep
Self-employed retirement plans: Weighing the tax advantages
Many business owners know self-employed retirement plans are tax-saving vehicles that can reduce your small business’ hard-earned taxable income. But…
Small Business Tax Prep
Claiming a business loss deduction
If you incur a business loss, you might be wondering if you can write-off the loss on your small business…
Small Business Tax Prep
How to file small business taxes
When running a business, your duties are limitless – managing a workforce, growing your business, promoting your products or services,…
Small Business Tax Prep
8 tax steps to take when hiring employees
If you’re entering a stage of growth as a small business, you’ll likely need one thing to take your business…
Small Business Tax Prep
Why use a tax professional at Block Advisors
It’s no secret that you have options when it comes to your small business taxes. So, why use a tax…
Small Business Tax Prep
Form 940: A quick guide to reporting federal unemployment tax
One of the many payroll taxes employers are accountable for is federal unemployment tax. If your small business has employees…
Small Business Tax Prep
FUTA: What employers need to know about unemployment tax
FUTA stands for Federal Unemployment Tax Act, but what does it mean for small business owners? If you’re adding employees…
Small Business Tax Prep
Qualified business income deduction: Keys to claiming this big tax break
For certain small business owners, the qualified business income deduction (QBID) was one of the major elements of 2017’s Tax…
Small Business Tax Prep
Guide to 2020-2021 small business taxes and stimulus relief
Editor’s Note: This guide was originally published on February 12, 2021. It includes latest small business relief from the PPP Extension…
Small Business Tax Prep
Taxes for the self-employed: Getting your self-employed tax return right
Is this the year you start your own business? Self-employment taxes may not be top of mind as you embark…
Small Business Tax Prep
How to get an Employer Identification Number (EIN)
Are you thinking of starting a new business this year? Or are you planning on buying an existing one? If…
Small Business Tax Prep
FICA tax rate: Figures and formulas employers need to know
As an owner of a small business, you have extra responsibilities. You wear many different “hats” which can include HR,…
Small Business Tax Prep
Hiring a family member: Tax matters for spouses and kids
Is it a dream of yours to go into business with or work with a family member—a spouse, child, or…
Small Business Tax Prep
6 timely (and timeless) small business tax tips for year-end and beyond
For small business owners, taxes should be on your mind year-round. But when the year draws to a close, there…
Small Business Tax Prep
Need more time? Here's how to file a business tax extension
Tax day comes once a year — are you ready? As a small business owner, you likely have more responsibilities…
Small Business Tax Prep
Seven common tax questions when starting a business
When starting a business, taxes and other financial tasks may seem like time-consuming chores that’ll take your focus away from…
Small Business Tax Prep
Amended partnership return (Amended 1065): Get help for a tricky tax task
Amending your tax return can take several steps for some types of businesses. However, an amended partnership return is possibly…
Small Business Tax Prep
Questions to ask a tax accountant or preparer for your business before hiring them
There are millions of tax preparers in the U.S., so where do you begin in your quest to find one…
Small Business Tax Prep
Form 1120-W: How corporate estimated tax payments are made
Because our tax system is pay as you go, many corporations need to consider using Form 1120-W as part of…
Small Business Tax Prep
Maximizing your business travel tax deductions
Each year as tax day approaches, the hunt to find additional tax deductions to lower your taxable rate as a…
Small Business Tax Prep
Bonus depreciation: Finding flexibility in deducting business costs
You may know that depreciation lets you spread out the cost of certain fixed assets over time. But, what about…
Small Business Tax Prep
Section 179 deductions: How certain expenses can reduce business income this year
Section 179 deductions are advantageous to take as a small business owner because it offers helpful tax deductions to reduce…
Small Business Tax Prep
How to use Schedule SE to determine your self-employment taxes
Editor’s note: Starting a business this year? Learn more about IRS Schedule SE, a common tax form used by entrepreneurs…
Small Business Tax Prep
Form 8829: Claiming expenses for the business use of your home
The home office deduction is a key tax deduction you want to be mindful of this tax season and beyond—and…
Small Business Tax Prep
Form 7004: Get more time to file your business return with an extension
There may be a number of reasons you need to request a business tax extension with Form 7004. Whether you’re…
Small Business Tax Prep
When are estimated tax payments due for small business owners?
Quick tip: If you’re a small business owner, mark your calendar after you find out your estimated tax due dates!…
Small Business Tax Prep
Guide to 2020-2021 small business taxes and stimulus relief
Editor’s Note: This guide was originally published on February 12, 2021. It includes latest small business relief from the PPP Extension…
Small Business Tax Prep
When are business taxes due?
While Tax Day is the only date some people may have on their calendar, there are actually many important business…
Small Business Tax Prep
How an LLC is taxed and what your options are
Considering setting up your business as a limited liability company (LLC)? Perhaps your business is growing and becoming more complex.…
Small Business Tax Prep
Quarterly tax payments: Who should pay them and when
With so much attention on Tax Day, other tax deadlines are easily overlooked, including quarterly tax payments. Believe it or…
Small Business Tax Prep
Home office tax deduction: Who qualifies and how to calculate it
One of the biggest values of being your own boss is deciding where you want to work. And many entrepreneurs…
Small Business Tax Prep
The ultimate list of small business tax forms
Editor’s note: This post provides information on a variety of small business tax forms. No matter how your business is…
Small Business Tax Prep
How to use Schedule SE to determine your self-employment taxes
Editor’s note: Starting a business this year? Learn more about IRS Schedule SE, a common tax form used by entrepreneurs…
Small Business Tax Prep
Section 179 deductions: How certain expenses can reduce business income this year
Section 179 deductions are advantageous to take as a small business owner because it offers helpful tax deductions to reduce…
Small Business Tax Prep
When Are W-2s Due This Year? What About 1099s?
At the beginning of each calendar year, employers must provide annual income statements to employees and non-employee workers so they…
Small Business Tax Prep
What is a 1099-K? How to report 1099-K income on a tax return.
Alert: The IRS has announced a delay to the 2022 tax form 1099-K rule changes as outlined on this page. For tax…
Small Business Tax Prep
Does my vehicle qualify as a Section 179 tax deduction?
Many small business owners are pleased to learn that a vehicle they purchased for use in their company may qualify…
Small Business Tax Prep
Bonus depreciation: Finding flexibility in deducting business costs
You may know that depreciation lets you spread out the cost of certain fixed assets over time. But, what about…
Small Business Tax Prep
Crowdfunding taxes: Why entrepreneurs may owe the IRS
Raising money online through third-party backers, or crowdfunding, is an emerging and widespread way to raise capital as a small…
Small Business Tax Prep
5 small business tax issues -- and how to avoid them
When people choose to become their own boss, they may not be thinking of potential small business tax problems they…
Small Business Tax Prep
Small business tax deductions can trim your tax bill
One of the best ways to reduce your overall tax bill is through small business tax deductions. While some might…
Small Business Tax Prep
Writing off car expenses for business: Understand your options
Driving and maintaining a vehicle as part of your business can mean added car expenses. Luckily, you can offset those…
Small Business Tax Prep
Self-employed tax deductions: A cheat sheet to tax deductible business expenses
Let’s face it — tax time can be stressful. This is especially true for those subject to additional small-business tax…
Small Business Tax Prep
Tax Form W-9: A guide for small businesses
Growing your business is an exciting thing—but it comes with new and uncharted tasks from a tax perspective. One new…
Small Business Tax Prep
1040 form for small business
Form 1040 is familiar to most individual taxpayers as it’s the tax form required for U.S. citizen and resident individuals…
Small Business Tax Prep
Form 1065: What partners need to know to report income
Forming a partnership can have its advantages for your small business. It also means a different way of completing your…
Small Business Tax Prep
Sole proprietorship tax essentials
Running a business on your own is exciting. You get to follow your dreams and be your own boss. But…
Small Business Tax Prep
Maximizing your business travel tax deductions
Each year as tax day approaches, the hunt to find additional tax deductions to lower your taxable rate as a…
Small Business Tax Prep
Questions to ask a tax accountant or preparer for your business before hiring them
There are millions of tax preparers in the U.S., so where do you begin in your quest to find one…
Small Business Tax Prep
Form 1120-S filing fundamentals for your business
Not all small businesses are alike, and neither are their taxes. For S corporations, the reporting of certain taxable activity…
Small Business Tax Prep
Schedule C: Who should file it and how
If you alone or with your spouse run a business, it’s likely you’ll file a Schedule C (Form 1040) to…
Small Business Tax Prep
Small business tax preparation 101: What to bring to tax appointments
If you’re on top of your small business expenses and other tax-related tasks, making an appointment with your tax professional…
Small Business Tax Prep
Claiming a business loss deduction
If you incur a business loss, you might be wondering if you can write-off the loss on your small business…
Small Business Tax Prep
Form 1099-NEC: What's important for independent contractors
There’s a new IRS form in town, Form 1099-NEC. Starting in tax year 2020, instead of reporting nonemployee compensation through…
Small Business Tax Prep
8 tax steps to take when hiring employees
If you’re entering a stage of growth as a small business, you’ll likely need one thing to take your business…
Small Business Tax Prep
Hiring a family member: Tax matters for spouses and kids
Is it a dream of yours to go into business with or work with a family member—a spouse, child, or…
Small Business Tax Prep
Form 1096: Know when to use this form for contractor compensation
Do you operate or own a small business that employs independent contractors throughout the year? Do you also file all…
Small Business Tax Prep
6 timely (and timeless) small business tax tips for year-end and beyond
For small business owners, taxes should be on your mind year-round. But when the year draws to a close, there…
Small Business Tax Prep
Qualified business income deduction: Keys to claiming this big tax break
For certain small business owners, the qualified business income deduction (QBID) was one of the major elements of 2017’s Tax…
Small Business Tax Prep
What's the depreciation schedule for business assets?
If you own a business, you can deduct purchases used to make income for your business over time. This includes…
Small Business Tax Prep
Amended partnership return (Amended 1065): Get help for a tricky tax task
Amending your tax return can take several steps for some types of businesses. However, an amended partnership return is possibly…
Small Business Tax Prep
Form 7004: Get more time to file your business return with an extension
There may be a number of reasons you need to request a business tax extension with Form 7004. Whether you’re…
Small Business Tax Prep
Ways to File Taxes with Block Advisors
There have always been many ways to file with Block Advisors. Yet, in light of Coronavirus, we have modified the…
Small Business Tax Prep
Form 1120: Reporting how much tax your C Corp or LLC owes
Business tax forms can get confusing. “What business entity files what?” you may wonder. Well, whether you are a newly…
Small Business Tax Prep
Form 940: A quick guide to reporting federal unemployment tax
One of the many payroll taxes employers are accountable for is federal unemployment tax. If your small business has employees…
Small Business Tax Prep
Schedule E: Reporting supplemental income and loss
If you ever earn supplemental income from a rental property, royalty, or pass-through business entity, you will want to know…
Small Business Tax Prep
Small business tax changes for 2022: What to expect
Whether you’re self-employed or a small business owner, your day-to-day tasks likely don’t include keeping up with small business tax…
Small Business Tax Prep
Use Form 4562 to offset your operating costs
As a business owner, operating costs can be expensive. Tax breaks can help with offsetting the cost of certain types…
Small Business Tax Prep
Form 1120-W: How corporate estimated tax payments are made
Because our tax system is pay as you go, many corporations need to consider using Form 1120-W as part of…
Small Business Tax Prep
Is business loan interest deductible? Get briefed on claiming this potential tax deduction
Questions around loans and interest deductions are common for small business owners. In fact, we’re often asked, “Are small business…
Small Business Tax Prep
Self-employed retirement plans: Weighing the tax advantages
Many business owners know self-employed retirement plans are tax-saving vehicles that can reduce your small business’ hard-earned taxable income. But…
Small Business Tax Prep
Need more time? Here's how to file a business tax extension
Tax day comes once a year — are you ready? As a small business owner, you likely have more responsibilities…
Small Business Tax Prep
Form 941: How employers report quarterly federal taxes
Editor’s note: Form 941 is a tax form used by employers to report quarterly tax withholding amounts for employer payments…
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