Small Business, Farm & Startup Tax Forum

Business & farm

Employee vs Contractor: Which is correct?

As a business owner, it’s important to know how you should treat payments you make to the people who work for you. The simplest explanation is that an “employee” has taxes withheld from their paychecks and receives a W-2 at tax time - while “contract... read more

LLC, Sole Proprietor, S-Corp, Partnership: What’s the Difference?

Creating a Limited Liability Company (LLC) is a common first step when starting a business, and there are good reasons. It’s a legal entity that potentially offers liability protection, but it’s usually easier and less costly to create than a corpora... read more

Can I Deduct My Home Office?

Working from home has its pros and cons! And if you do work from home, a juicy tax break would be a great bonus. Typically, being allowed to take a deduction for your home office is limited to self-employed individuals on the federal (IRS) side, but ... read more

Easily File 1099-NEC or W-2 Forms: Quick Employer Forms (QEF)

Did you pay someone to help with your business? If so, you might need to file a W-2 form for an employee or a Form 1099-NEC for contracted help. If you have bona fide W-2 employees, you’re probably already withholding taxes and you know those W-2 for... read more

Vehicle Deductions: All You Need to Know!

Do you want to drive away with massive vehicle tax deductions? Before you race to the tax-filing finish line, there are things you need to know to ensure that tax win! While vehicle deductions can be huge, there’s a great responsibility to thoroughly... read more

Self-Employed: Don’t Miss These Tax Moves!

You don’t know what you don’t know! For example, did you know that many self-employed taxpayers qualify for a health insurance tax deduction? Or did you know that if you don’t file the proper forms for employers and contractors (on time), the IRS cou... read more

Quick Links for Self-employed & Gig Workers!

Having a business is both exciting and rewarding! But it can be confusing if you don’t know what it means for your tax returns. Whether you’re starting off and plan to conquer the world with your new business, have a side gig for a little extra cash,... read more

vehicle business sale is wrongly calculated by TT

I’m having trouble entering the sale of vehicle for business use in TurboTax Desktop. The vehicle was used for business with a 54.05% business‑use percentage, a business‑portion depreciable basis of $33,155, total depreciation of $18,164, and a busin... read more

W-2 form processing time unusually long

Submitted on Jan 13 using Quick Employer Forms. All data correct. Still in Processing on Jan 21, usually I get confirmation within 48 hours. Neither Accepted no Rejected notice. Does anybody experience long delays?

I need to change the "at risk" box on my schedule C. The directions say to go to the business tab. There is no business tab this year. Anybody know how to change it?

Form 1099-NEC CORR with $0 status with "VOID_INCOMPLETE"

I mistakenly e-filed a 1099-MISC form using the 1099-NEC, and it has already been accepted by the IRS. In an attempt to correct this, I went back to the Payee Name under 1099-NEC and attempted to enter $0, but the system did not allow it. After multi... read more