How Unemployment Benefits Are Calculated by State
Unemployment insurance (UI) provides temporary wage replacement to eligible workers who lose their jobs through no fault of their own. In the U.S., each state administers its own UI program, with varying rules on benefit amounts and durations. For business owners, it’s crucial to understand how these benefits are calculated, because employers fund them via […]
2026 Tax Calendar For Every U.S. Small Business Owner Needs
Staying on top of tax deadlines is critical for any small business. Missing a due date can trigger penalties, interest, and cash-flow headaches, setting you back just when you should be growing. That’s why a clear 2026 tax calendar (and the right tools to manage it) is essential. This guide walks through all the key […]
What is Form 1065 Schedule L: Requirements and Filing Instructions
When partnerships file their annual tax return with the IRS, accuracy and transparency are critical. Form 1065 Schedule L plays a vital role in it. Schedule L acts as the partnership’s balance sheet, giving the IRS a clear snapshot of the business’s financial position at the beginning and end of the tax year. While some […]
Who Must File Form 1065 Schedule M-3? Filing Rules and Common Errors
In recent years, the IRS has been paying much closer attention to large partnerships. With billions of dollars in business income flowing through partnership returns each year, the government wants a clearer picture of how book income compares to taxable income. That’s where Form 1065 Schedule M-3 makes a difference. Schedule M-3 acts as a […]
Form 1065 Schedule B Explained: Key Questions & Filing Guide
A partnership that operates profitably, pays its creditors and employees on time, and files Form 1065 but omits a key disclosure on Schedule B may receive a notice from the IRS. The detail could be that foreign partners are not being disclosed or that related-party transactions are being overlooked. Something like this could lead to […]
Form 1120-S Explained: S Corp Filing Deadlines, Rules & Tips
Small business owners running an S corporation are focused on the day-to-day operations. Businesses can sometimes be overwhelming, and you could miss filing IRS Form 1120-S or make mistakes in the filing. Missing the deadline to file Form 1120-S leads to notices from the IRS and penalties. What could have been a simple filing turns […]
Federal Tax Form 1040: A Complete Guide
When tax season rolls around, one form stands out as the centerpiece of federal income tax filing: IRS Form 1040. Whether you are a first-time filer or an experienced taxpayer, understanding what the 1040 Form is and how it impacts your tax obligations is essential. This form is the official way individuals report their annual […]
IRS Form 1065: What is it? Who must file? Filing details, Extensions & E-Filing
When running a partnership or multi-member LLC, staying compliant with federal tax rules is essential. One of the most critical filings for these businesses is the 1065 tax form, or the U.S. Return of Partnership Income. This return is how the IRS monitors the income, deductions, and credits of partnerships, even though the business itself […]
How to File Form 1120—The Complete Guide for U.S. Taxpayers
If you are an entrepreneur, it is inevitable to file the Form 1120; misfiling it invites penalties that could reduce your profits and disrupt cash flow. What makes Form 1120 so critical? It is the official document that U.S. corporations use to report income, deductions, and credits to the IRS. Filing it correctly is a […]
Inheritance Tax Texas: Does Texas Have an Inheritance Tax?
What is inheritance tax? What is the Estate tax, and how can I begin to comprehend it? We can begin with one of the most common questions families ask: “Does Texas have an inheritance tax?” The short answer is no; Texas does not have an inheritance tax or an estate tax. Beneficiaries who inherit property, […]
