Small business tax guides
75 guides to the returns, deadlines and forms small businesses deal with in the US and Canada. Short answers first, with the official source for every fact. Read all quick answers on one page.
States
- Maryland Business Taxes: Agencies, Portals, Forms & DatesEvery Maryland business tax agency, portal, and form in one guide. See SDAT April 15 deadlines, Maryland Tax Connect rules, 6% sales tax, and employer steps.
- New Jersey small business taxes: CBT rates and minimum tax, NJ-1065 fee, BAIT, sales tax and payroll datesEvery New Jersey tax and filing a small business deals with: Corporation Business Tax at 6.5% to 9% with a $500 to $2,000 minimum, the $150-per-partner NJ-1065 fee, the PTE/BAIT election, 6.625% sales tax and ST-50 dates, $75 annual report, and 2026 and 2027 payroll rates and wage bases.
- New York small business taxes: IT-204-LL fee, Article 9-A franchise tax, sales tax and 2026 datesEvery New York State tax a small business deals with: the IT-204-LL LLC filing fee ($25 to $4,500, no extension), the Article 9-A corporate franchise tax and its three bases, CT-3-S and the MTA surcharge, sales tax filing frequencies and the federal dates that sit alongside them.
- Washington small business taxes: B&O rates, sales tax, license, annual report and 2026-2027 payroll ratesEvery Washington State tax and filing a small business deals with: the B&O gross receipts tax and its rates, 6.5% state sales tax, the $12,000 business license trigger, Secretary of State fees and annual report, UI wage base and Paid Leave premiums for 2026 and 2027, personal property tax and capital gains.
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By industry
- Amazon Seller Taxes: 1099-K, Inventory & Deductions GuideComplete guide to Amazon seller taxes for 2025 and 2026: Form 1099-K rules, FBA inventory accounting, tax deductions, Schedule C filing, and Canadian GST/HST.
- Bookkeeping and tax for contractors: 1099-NEC for subs, job costs and 2026 numbersBookkeeping and tax prep for construction and trade contractors: the 2026 $2,000 Form 1099-NEC rule for subcontractors, backup withholding, the January 31 deadline, information return penalties, job costing and retainage, and the 2026 Section 179 and cash method limits.
- Bookkeeping and taxes for real estate agents: Schedule C, mileage and estimated taxHow the IRS taxes licensed real estate agents as self-employed, where commissions, fees paid and expenses go on Schedule C, the 2026 mileage rates, self-employment tax and the 2026 estimated tax dates.
- Ecommerce bookkeeping and taxes: Form 1099-K, contractor 1099s and marketplace sales taxBookkeeping and tax filing for online stores: why Form 1099-K shows gross sales, not your deposits, the $20,000 and 200-transaction rule, $2,000 Form 1099-NEC threshold, marketplace facilitator sales tax and 2026-2027 penalties.
- Farmer tax deductions: Schedule F expenses, Section 179, prepaid supplies and farm record rulesWhat farmers can deduct on Schedule F, from IRS Publication 225: ordinary and necessary costs, the 50% prepaid supplies limit, the 75% farm truck rule, 2025 Section 179 and 100% bonus depreciation, conservation expenses, income averaging, the farmer estimated tax rule and how long to keep records.
- Freelancer taxes and bookkeeping: self-employment tax, quarterly payments and formsHow the IRS taxes freelancers in 2026: the 15.3% self-employment tax on 92.35% of net profit, the $184,500 Social Security cap, the four Form 1040-ES due dates and the safe harbor rules, with a worked example.
- Nonprofit taxes: Form 990 thresholds, T3010 and T1044, penalties and bookkeeping (US and Canada)Which Form 990 a US exempt organization files (990-N, 990-EZ, 990, 990-PF), the 1023 user fees, late penalties and automatic revocation, plus Canada's T3010 for charities and T1044 for NPOs, with the record-keeping rules.
- Restaurant bookkeeping and taxes: tips, Form 8027 and POS reconciliationRestaurant bookkeeping built around what the IRS asks for: how to split POS sales, tips and service charges, the 20-dollar tip reporting rule, Form 8027 and the 8% allocation, the FICA tip credit and the payroll calendar.
- Startup taxes: R&D credit and payroll offset, NOL carryforwards, SR&ED in Canada and bookkeepingThe tax rules that matter most to an early-stage startup: Form 6765 and the $500,000 payroll tax election on Form 8974, how unused research credits carry back and forward, the 80% NOL limit, C corporation deadlines, and Canada's SR&ED credit at 15% or 35% with its 18-month deadline.
- Taxes for accountants and tax preparers: PTIN, e-file mandate, preparer penalties and 2026 deductionsThe tax rules that apply to an accounting or tax prep practice: the $18.75 PTIN fee and December 31 expiry, the 11-return e-file mandate, Form 8948 and 8944, section 6694 and 6695 preparer penalties, and 2026 Section 179, QBI and 1099 thresholds.
- Taxes for attorneys and law firms: 1099 rules, 2026 deductions, deadlines and bookkeepingHow attorney and law firm taxes work in 2026: 1099-NEC box 1a vs 1099-MISC box 10, why corporations that provide legal services still get 1099s, QBI and Section 179 limits, the 72.5-cent mileage rate, estimated tax dates and penalties.
- Truck Driver Tax Deductions: Per Diem, Form 2290 & Schedule CLearn which truck driver tax deductions owner-operators can claim on Schedule C, how the $80 per diem meal rule works, and when Form 2290 is due.
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S corporations
- C corp vs S corp: taxes, owners, forms and deadlines side by sideHow the IRS taxes a C corporation and an S corporation, who can own each, which returns each files, the March and April due dates and how an S election starts and ends. Every fact from IRS pages.
- Form 1120-S: what the S corp return needs, K-1s, deadlines and a records checklistWho files IRS Form 1120-S, the March 16, 2026 due date, the $250,000 test for skipping Schedules L, M-1, K-2 and K-3, how Schedule K-1 works, the late-filing penalties and the records to gather first.
- Form 2553 and the S corp election: who qualifies, the deadline and late election reliefHow to elect S corporation status on IRS Form 2553: the eligibility tests, the 2 months and 15 days deadline worked out with dates, where to mail or fax it by state, and late election relief under Rev. Proc. 2013-30.
- How S corps are taxed: pass-through income, salary, basis and Form 1120-SAn S corporation generally pays no federal income tax itself. Income passes to shareholders at their own rates. See the reasonable salary rule, how distributions and basis work, the entity-level taxes, Form 1120-S deadlines and penalties.
- LLC vs S corp taxes: forms, self-employment tax and deadlinesAn LLC is a state legal structure. An S corp is a federal tax election. See how each is taxed, which IRS forms each files, the 2026 self-employment tax math and the Form 2553 deadline.
- S corp tax deadline: when Form 1120-S is due and how to extend itForm 1120-S is due the 15th day of the 3rd month after the tax year ends (March 16, 2026 for 2025 calendar-year returns). See the Form 7004 extension, estimated tax dates, the Form 2553 deadline and the 2026 and 2027 late-filing penalties.
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C corporations
- C corp tax rate: the 21% federal corporate rate explainedC corporations pay a flat 21% federal income tax on taxable income. See how the rate applies, what reduces taxable income, who files Form 1120, the due dates, estimated tax rules and 2026 penalties.
- Corporate tax deadline: when Form 1120 is due, by year endA C corporation's Form 1120 is due on the 15th day of the 4th month after its tax year ends: April 15 for calendar-year corporations. Due dates by fiscal year end, the June 30 exception and its 2026 change, Form 7004, estimated tax dates and penalties.
- Form 1120: who files the C corp tax return, when it's due and how it's laid outIRS Form 1120 is the U.S. corporation income tax return. See who must file it, the April 15 due date and the June 30 fiscal-year exception, every schedule on the six-page form, the $250,000 and $500,000 thresholds, penalties and record rules.
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Partnerships and multi-member LLCs
- Form 1065: who files the partnership return, what's in it, and when it's dueIRS Form 1065 is the U.S. Return of Partnership Income. See who must file, the March 15 deadline (March 16, 2026 for 2025 returns), what each schedule is for, the Schedule B question 4 shortcut and the 2026 penalties.
- How LLCs are taxed: single-member, multi-member and electionsThe IRS has no LLC tax category. It taxes an LLC as a disregarded entity, a partnership or a corporation. See the default rules, the Form 8832 and Form 2553 elections, the returns each files and the deadlines.
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Sole proprietors and single-member LLCs
- Home office deduction: simplified vs regular method for the self-employedSelf-employed people and partners can deduct a home office used exclusively and regularly for business. Compare the IRS simplified method ($5 per square foot, up to 300 square feet) with the regular method, with a worked example and the forms each uses.
- IRS standard mileage rate 2026: 72.5 cents, then 76 cents from July 1The 2026 IRS mileage rates for business, medical, moving and charity, before and after the July 1 increase, with the rules for who can use them, the split-year math and the rate history.
- LLC Meaning: Limited Liability Company Definition & IRS TaxesAn LLC is a Limited Liability Company formed under state law. Learn how the IRS classifies single and multi-member LLCs, tax forms, EIN rules, and elections.
- LLC tax forms: which IRS return your LLC files, by classificationA form map for LLCs from IRS pages: Schedule C, E or F for a single-member LLC, Form 1065 and K-1 for a multi-member LLC, Form 1120 or 1120-S after an election, plus Forms SS-4, 8832 and 2553 and the employment and excise forms that use the LLC's own EIN.
- QBI deduction 2026: thresholds, the new $400 minimum and Form 8995The qualified business income (Section 199A) deduction for 2026: up to 20% of QBI, the $201,750 / $403,500 thresholds and phase-in ranges from Rev. Proc. 2025-32, the new $400 minimum deduction, what counts as QBI and Form 8995 vs 8995-A.
- Schedule C (Form 1040): line-by-line guide and the records each line needsSchedule C reports profit or loss from a sole proprietorship or one-member LLC. A line-by-line map of the 2025 form, the records behind each line, the mileage and home office rates, and how line 31 flows to Schedule SE.
- Self-employment tax: the 15.3% rate, 2026 wage base and how to figure itSelf-employment tax is 15.3% (12.4% Social Security plus 2.9% Medicare) on 92.35% of net earnings. See the 2026 $184,500 wage base, the $400 filing rule, the deduction for half and worked examples with IRS sources.
- Sole proprietorship vs LLC: same default taxes, different liability and optionsBy default the IRS taxes a one-owner LLC the same way as a sole proprietorship: Schedule C and 15.3% self-employment tax. See what actually differs: liability, tax elections, EIN and W-9 rules, spouse ownership and deadlines.
- When are LLC taxes due? 2026 and 2027 deadlines for all four LLC tax typesLLC tax due dates depend on how the IRS taxes the LLC. One table with the 2026 and 2027 deadlines and extensions for single-member LLCs (Schedule C), partnerships (Form 1065), S corporations (Form 1120-S) and C corporations (Form 1120), plus estimated tax dates and late penalties.
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Bookkeeping
- Affordable bookkeeping: what cheap plans cover and where they cut cornersWhat low-cost bookkeeping should include, what usually sits outside it (payroll, tax returns, 1099s), and the IRS rules and penalties that cost more than the savings when they're skipped.
- Automated bookkeeping: what software does, what it doesn't, and the IRS rules for electronic booksWhat bookkeeping automation handles and what still needs records and review: IRS rules for computerized records (Rev. Proc. 98-25 and 97-22), what examiners ask for, how long to keep records, and what BLS says about automation and bookkeepers.
- Bookkeeper hourly rate: $24.36 median wage and the real cost per hourWhat bookkeepers earn per hour from May 2025 BLS data, what an employer really pays per hour once benefits and payroll taxes are added (June 2026 BLS cost data), and what changes when you pay a contractor instead.
- Bookkeeping basics for small businesses: records, rules and how long to keep themA beginner's guide to small business bookkeeping: what to record, the IRS rules on recordkeeping systems and the cash method, self-employment tax, 1099s and W-9s, and how long to keep each kind of record.
- Bookkeeping for Content Creators: IRS Rules, Gear & PayoutsHow to do bookkeeping for content creators under IRS rules: tracking platform payouts, gifted goods, gear depreciation, Form 1099-K, and quarterly taxes.
- Bookkeeping for doctors and medical practices: receivables, cash vs accrual, staff and 1099sHow bookkeeping works for a physician practice: when insurance and patient payments count as income under the cash and accrual methods, which practices can use the cash method, what an office of physicians employs and pays, and the 2026 Form 1099 rules.
- Bookkeeping spreadsheet: a free template mapped to Schedule C, and when you outgrow itBuild a small business bookkeeping spreadsheet the IRS way: the tabs Publication 583 describes, expense columns that match Schedule C lines, the 2026 mileage split, how long to keep records and the signs it's time for double-entry software.
- How much does a bookkeeper cost? 2026 wages and published service pricesWhat a bookkeeper costs in 2026: BLS pay for in-house bookkeepers plus employer payroll taxes, published monthly prices from bookkeeping services, catch-up fees and a flat monthly alternative.
- Monthly bookkeeper: what a monthly close includes, step by stepWhat a monthly bookkeeper does: recording and categorizing transactions, the IRS's bank reconciliation steps, monthly statements, the records to keep and for how long, plus how a bookkeeper differs from an accountant, with BLS pay data.
- Outsourcing bookkeeping: when it makes sense and how the handover worksWhat you hand over when you outsource bookkeeping, what an in-house bookkeeper costs by BLS data, the IRS deadlines your books feed, and a step-by-step handover with the IRS access tools.
- Tax accountant for a small business: what they do, credentials and representation rightsWhat a tax accountant does for a small business, how CPAs, enrolled agents and PTIN-only preparers differ in IRS representation rights, how to check a preparer, and the IRS filing rules and penalties the work revolves around.
- What does a bookkeeper do? Duties, records and pay, from BLS and IRS sourcesA plain description of a bookkeeper's job from the Bureau of Labor Statistics: the ledger, deposits, payables, receivables, reconciliations and reports. Plus the IRS records a bookkeeper keeps, how long to keep them, and May 2025 pay.
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Deadlines and extensions
- 1099-NEC deadline: January 31, the 2027 date, the $2,000 threshold and penaltiesWhen Form 1099-NEC is due to contractors and the IRS, how the weekend rule moves January 31, how it differs from 1099-MISC, the $600 to $2,000 threshold change, IRIS e-filing and the 2026 and 2027 penalty tables.
- Business tax deadlines 2026: every federal due date by entity typeWhen business taxes are due in 2026: partnerships and S corps by March 16, sole proprietors and C corps by April 15, extensions to September 15 and October 15, plus estimated tax, payroll and 1099 dates, in one table from IRS Publication 509.
- Business tax extension: Form 7004 vs Form 4868, form codes and the pay-by dateBusinesses extend Forms 1065, 1120-S, 1120 and 1041 with IRS Form 7004. Individuals, including sole proprietors filing Form 1040, use Form 4868. See the extension lengths, the Part I form codes, the 90% payment rule and the penalties if you miss.
- Form 941 due dates for 2026: quarterly deadlines and deposit schedulesForm 941 is due April 30, July 31, October 31 and January 31. See the 10-day extension rule, monthly vs semiweekly deposits, the 2026 lookback period, the $2,500 and $100,000 rules and the Line 5 math.
- Form W-4 (2026): how employees fill it out, exempt status, deadlines and employer rulesForm W-4, Employee's Withholding Certificate, tells an employer how much federal income tax to withhold. The 5 steps, the 2026 Step 4(b) deductions for tips, overtime and car loan interest, exempt status renewal by February 16, 2027, the 30-day and 10-day rules, invalid forms, lock-in letters and 4-year record keeping.
- W-2 deadline: January 31 rule, 2026 and 2027 dates, extensions and penaltiesForm W-2 is due to employees and the SSA by January 31, moved to the next business day on weekends: February 2, 2026 for 2025 wages. Extensions on Forms 8809 and 15397, the 10-return e-file rule and the 2026 and 2027 late penalties.
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Estimated tax and planning
- Business tax planning: estimated taxes, safe harbors and the 2026 numbersYear-round business tax planning with IRS sources: who pays estimated tax ($1,000 individuals, $500 corporations), payment dates, the 90%/100% safe harbor, annualizing uneven income and the 2026 Section 179, QBI and mileage figures.
- Deduction: meaning, deduction vs credit, and a worked exampleA tax deduction is an amount you subtract from your income so you don't pay tax on it. See how it differs from a credit, the ordinary and necessary rule for business expenses, and a worked Schedule C example with 2026 IRS rates.
- Quarterly estimated tax dates for 2026 and 2027The four IRS estimated tax due dates for 2026 (April 15, June 15, September 15 and January 15, 2027), the 2027 dates, who must pay, the safe harbor rules, the weekend rule and every way to pay.
- Section 179 deduction: limits, what qualifies and how to claim it on Form 4562The Section 179 deduction lets a business expense qualifying property in the year it's placed in service. See the $2,500,000 limit for 2025, the $4,000,000 phase-out, SUV and car caps, the business income limit, recapture and how Form 4562 Part I works.
- Small business tax deductions: the 2025 and 2026 numbers from IRS publicationsThe deductions IRS publications describe for small businesses, with 2025 and 2026 limits side by side: Section 179, bonus depreciation, the 20% QBI deduction, the home office rules, half of self-employment tax, meals, research costs and the excess business loss cap.
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Payroll forms and 1099s
- Form 940: FUTA tax rate, who files, due dates and depositsIRS Form 940 reports federal unemployment (FUTA) tax: 6.0% on the first $7,000 per employee, usually 0.6% after the state credit. Who must file, the February 2, 2026 due date, the $500 deposit rule and how to amend.
- Form SS-4: how to apply for an EIN online, by fax or mail, line-by-line tips and timingForm SS-4 is the IRS application for a free 9-digit EIN. Who must file, when to apply, online hours, fax numbers and mailing addresses, processing times (immediate, 4 business days, 4 weeks), the responsible party rule and common errors.
- Form W-9: who fills it out, line-by-line instructions, due date and backup withholdingForm W-9 gives your correct TIN to a payer who files information returns like Form 1099-NEC. Who must fill it out, what goes on each line for sole proprietors and LLCs, when it's due, the 24% backup withholding rule and the $50 and $500 penalties.
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IRS forms
- Form 1040: who must file, 2025 thresholds, due date, schedules and common errorsForm 1040 is the US individual income tax return. 2025 filing thresholds by status and age, the $400 self-employment rule, the April 15, 2026 due date and extensions, Schedules 1, 1-A, 2 and 3, the records to keep, penalties and the errors that get returns rejected.
- Form 2848: IRS power of attorney, who can sign, line-by-line rules, where to file and how to revokeForm 2848, Power of Attorney and Declaration of Representative, lets an eligible individual represent you before the IRS. Who can be named, Line 3 rules (no 'all years'), the 3-year CAF limit, signatures and the 45-day window, online, fax and mail addresses, and how to revoke or withdraw.
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Canada
- Alberta small business taxes: 2% and 8% corporate rates, AT1 and T2, annual return, GST and 2026 changesEverything an Alberta small business files: the 2% small business and 8% general corporate rates, the Alberta AT1 and federal T2 (both due six months after year end), AT1 exemption and e-filing rules, instalments, Corporate Registry annual returns, GST registration at $30,000, and the 2026 TRACS changes.
- Corporate tax filing services in Canada: what a T2 filing involvesWho has to file a T2, the six-month filing deadline, the two- or three-month balance-due day, mandatory e-filing, CRA penalties and 2026 corporate tax rates by province, with CRA sources.
- Form T2125: Statement of Business or Professional Activities, part by partWhat CRA Form T2125 is, who files one (and when you need more than one), how Part 3A business income works line by line, and the June 15 and April 30 dates, instalments and 2026 CPP that come with it.
- GST/HST registration: the $30,000 small supplier rule and how to get a GST numberWhen a Canadian business has to register for the GST/HST, how the $30,000 small supplier test works by calendar quarter, the 29-day deadline, voluntary registration and how to open an RT account with the CRA.
- T2 corporate tax return: what's in it, GIFI, schedules and how to fileWhat a T2 Corporation Income Tax Return contains: the 9-page return or the T2 Short Return, the GIFI financial statements, and the schedules most small corporations attach. Who files, mandatory e-filing, deadlines and penalties, from the CRA's T2 guide.
- Taxes for consultants in Canada: personal services business rulesIncorporated consultants can be treated as a personal services business (PSB) by the CRA. See the five conditions, the higher tax rate it brings, the four deductions allowed, the T2 lines to use and the slips clients issue.
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Business tax basics
- EBITDA: meaning, formula and the IRS version (ATI)EBITDA means earnings before interest, taxes, depreciation and amortization. See the formula, a worked example and how the IRS's adjusted taxable income on Form 8990 works like it.
- Forden vs TurboTax Business: prices, forms covered and who filesTurboTax Business pricing for DIY, Expert Assist and Expert Full Service, which entities and forms each tier covers, and how Forden's flat yearly price compares, with sources dated October 31, 2026.
- Free invoice template for small business, with the fields tax rules require (US and Canada)A free small business invoice template: every field to include, a filled-in sample, numbering and payment terms, plus the CRA's GST/HST invoice rules at $100 and $500 and how long the IRS and CRA say to keep invoices.
- How much does a CPA cost for a small business? IRS and BLS numbers for 2026What small businesses spend to get their taxes prepared, from IRS cost estimates for Schedule C, Form 1065, Form 1120 and Form 1120-S filers, BLS accountant pay data and a flat-price alternative.
- How to file business taxes: the steps for each business structureHow to file federal business taxes as a sole proprietor, LLC, partnership, S corp or C corp: which IRS return each files, self-employment tax, estimated tax, Form 7004 extensions and the 2026 late-filing penalties, with worked numbers.
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