Thinking of forming an LLC? Learn the benefits, when it's worth the effort, and why some sole proprietors might be better off ...

Simplified taxes With sole proprietorship ... You will need to complete Form B (or electronically file Form e-B (sole proprietor)) detailing your profits and losses. Compared to an incorporated entity ...

Intuit's QuickBooks Solopreneur aims to build on the success of QuickBooks Self-Employed, which is no longer available to new ...

Running a small business allows you to avoid paying taxes that you would not have done otherwise. Taking use of various deductions is among the most effective strategies to reduce your tax liability.

Freelancers and independent contractors have to fill out Form W-9 for their employers and clients. Here's what to do and how ...

In the vibrant world of social media, influencers are redefining entrepreneurship. Platforms like TikTok have given rise to a ...

In 2021, the difference between what U.S. taxpayers owed the federal government and what they paid hit nearly $700 billion.

This change in reporting requirements will require third-party payment apps to send the IRS a 1099-K for earnings over $5,000 ...

For tax purposes, the IRS views a sole proprietorship as inseparable from its business owner. In contrast, an S corp is a hybrid form of pass-through entity that allows its owners to pass through some ...

In its new report, the IRS estimates that: The gross tax gap was $708 billion for 2021 and $696 billion in 2022; after ...