US Small Business Tax Compliance Index

Foundational Concepts

• Self Employment Income
• Cash Basis Accounting Criteria vs. Accrual Basis Accounting

Tax Obligations and Payments

• Self Employment Tax (Form 1040 Schedule SE)
• Estimated Tax Payments for Self-Employed (Form 1040-ES)

Business Deductions and Expenses

• July 4, 2025 OBBBA
  The OBBBA introduced several significant federal tax changes affecting U.S. small business owners and self-employed individuals.
  
  100% Bonus Depreciation: The Act permanently reinstates 100% bonus depreciation for qualifying property acquired and placed in service after January 19, 2025. This allows eligible business owners to deduct the full qualifying business-use cost of equipment and certain vehicles in the first year, rather than spreading the deduction over several years. Eligibility requirements and vehicle depreciation limits still apply.
  
  Qualified Business Income (QBI) Deduction: The Act makes the 20% QBI deduction permanent for eligible business owners. This is a separate deduction on the individual's federal income tax return, not a Schedule C business expense. Eligibility and income limitations apply.
  
  Qualified Tips Deduction: For tax years 2025 through 2028, eligible self-employed individuals may deduct up to $25,000 in qualified tips from their federal taxable income. The deduction is limited to the net income of the business in which the tips were earned. Occupation, income and other eligibility restrictions apply. Tips must still be reported as business income and generally remain subject to self-employment tax.
• U.S. Home Office Deduction: Two Options
  
• Sole Proprietorship Taxes: An Overview and Walkthrough December 13, 2024 (by Bench as I have not written anything on this topic yet.)
• What is Schedule C, and who needs to file one? January 3, 2025 (by Intuit as I have not written anything on this topic yet.)

Vehicle Related Business Expenses

• U.S. Rules for Business Use of Your Car
• Standard Mileage Rates Standard mileage rates are usually released by the IRS in early December each year
• Vehicle Depreciation Limits Bonus depreciation is usually released later

Payroll For A Small Business With Fewer Than 10 Employees | A Manual
CORE MANUAL

• Table of Contents and Manual Overview
• Part 1 - Payroll Setup and Management
• Part 2 - Payroll Tax Reporting and Compliance
• Part 3 - Payroll Operations Maintenance (coming soon)
• Reference Guide - Worker and Employment Tax Forms

SUPPORTING ARTICLES

Worker Classification Articles

• Independent Contractor or Employee - also discusses IRS Form 1099-MISC
• Form W-9,  Form 1099-NEC, and Form 1096
• IRS Form 1099-NEC vs 1099-MISC vs 1099-K: What's The Difference
• FLSA vs IRS Independent Contractor Rules - They serve different purposes and therefore have some differences in their standards
• July 4, 2025 OBBBA 1099 Threshold Changes
  The One Big Beautiful Bill Act (OBBBA), signed into law July 4, 2025, changed the reporting thresholds for certain U.S. Forms 1099.
  
  1099-NEC and 1099-MISC: The reporting threshold remains $600 for payments made in 2025. It increases to $2,000 for payments made in 2026, with annual inflation adjustments beginning in 2027. These changes do not affect employee W-2 reporting.
  
  1099-K: The Act reinstated the previous reporting threshold of more than $20,000 in aggregate payments and more than 200 transactions per calendar year. This applies retroactively to the 2024 tax year and subsequent years, replacing the lower thresholds previously scheduled under the American Rescue Plan Act (ARPA).

Employee Payroll Fundamentals

• Employment Tax Forms W2, W3, W4, and I-9
• Employee Payroll Tax Rates - FICA
• Employee Payroll Tax Rates - FUTA
• Employee Payroll Tax Deposits - FICA & FITW (Form 941)
• Employee Payroll Tax Deposits - FUTA & SUTA (Form 940)

Additional Compensation

• Business Travel Allowances CONUS - please note that self-employed individuals are not eligible to use per diem rates. The same applies for individuals that own 10% plus of a company.

Tax Compliance Fundamentals

• Your Tax Compliance Responsibilities
  
• IRS Compliance Requirements includes a tip about late charges
• Introductory Payroll Course Information

Important Deadlines and Timing

• Business Taxes Filing Deadlines
• Payroll Tax Deposit Deadlines
• Income Tax Season - Business Taxes Filing Deadlines
• IRS Official Receipt Date
• IRS Moving Timelines for Tax Responsibilities

Interest Rates and Financial Information
IRS Interest Rates

• Applicable Federal Rates (AFR) released monthly
• Over Payment of Taxes Interest Rates released quarterly 
• Under Payment of Taxes Interest Rates released quarterly

Business Planning Resources

• Market Watch Business Plan Aids

The forums are now closed but here are some useful posts: 

• Starting a Business in the U.S.
• Tax Calculators For The Self-Employed In The U.S. includes information on where you can find an excellent tax guide
• U.S. Tax Resources - how to find what you need from the U.S. government websites
• Non Residents of Canada - Cross Border Taxes