Category: Taxes


Thoughts on growing a business, raising money, getting the word out,
and increasing profits. Plus, ZipBooks news!

  • Everything You Need to Know About the FUTA Tax

    Posted 2 months ago in Taxes
    by Lindsay Sommers

    Whether you’re a new business owner or you’ve been around for a while, you need to know the ins and outs of the FUTA tax. You’ve likely got tons of questions: What is the the FUTA tax? Why do I need to pay it? What does it support? How much is it? Here’s everything you […]

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  • Estimated Quarterly Taxes: How to Calculate and File

    Posted 6 months ago in Taxes
    by Rachel Cottam

    Disclaimer: This post only applies to estimated quarterly taxes for Federal income tax filing. Depending on where you live, you may have to file quarterly state taxes as well.   When you’re an employee, it’s normal to have money withheld from your paycheck for taxes, retirement funds and insurance. When you’re self-employed, or if you […]

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  • Form 8829 Instructions: Your Complete Guide to Expense Your Home Office

    Posted 7 months ago in Small Business TipsTaxes
    by Meg Sproul

    If you have recently become self-employed, chances are you’re pretty nervous about handling tax season as a single-person business. Fortunately, while self-employment makes taxes a little trickier, it can also offer a few perks, like the chance to deduct everyday business expenses from your taxable income. One business expense you may be forgetting that could […]

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  • Top 10 1099 Tax Deductions

    Posted 7 months ago in Taxes
    by Rachel Cottam

    Figuring out your tax liability for income reported on your 1099 forms can get pretty complicated.  The tax rate for 1099 income is twice the rate of W2 income because employers are required by law to automatically withhold income tax from their employees’ paychecks. However, as a freelancer or independent contractor, you are your own […]

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  • What is a 1099-G?

    Posted 7 months ago in Taxes
    by Karin Hernandez

    1099 forms are the forms that the IRS uses to indicate income that was earned in some way other than by working for a traditional employer and receiving a W-2 tax form at the end of the year. There are many 1099 forms that cover a multitude of income types, and they are all designated […]

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  • 1099 Form: Complete Guide for Businesses & Contractors

    Posted 8 months ago in Small Business TipsTaxes
    by Meg Sproul

    Hi! I’m Meg, and I’m self-employed. Confession time: I recently did something pretty awful. I read everything I could find about 1099s on the IRS website. I kind of had to because, for me, tax time is a bit trickier than just submitting my standard W-2s. To avoid being penalized, I have to obtain a […]

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  • 1099-MISC tax form DIY guide

    Posted 9 months ago in Small Business TipsTaxes
    by Karin Hernandez

    What is a 1099-MISC form? Not the 1099 Form you’re looking for? What kind of income is reported on a 1099-MISC form? Who Files the 1099-MISC Form? Who Gets a 1099-MISC? Is There a Minimum Threshold Dollar Figure? How Do You File the 1099-MISC? How and When Do You Issue the 1099-MISC?   What is […]

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  • What Is IRS Form 1099-Q?

    Posted 10 months ago in Taxes
    by Karin Hernandez

    If you’re paying for education expenses out of a tax-free education account for yourself or a dependent, then you’ll receive a 1099-Q form from your plan administrator at the end of the year. The 1099-Q details the distributions that you received from your qualified tuition program. As long as the distributions are spent on “qualified […]

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  • When to Use Tax Form 1099-C for Cancellation of Debt

    Posted 1 year ago in Small Business TipsTaxes
    by Karin Hernandez

    Sometimes, despite your best efforts to manage your debt responsibly, the situation gets out of your control and you find yourself owing more than you can reasonably pay back. In that case, there are ways for you to negotiate with your creditors so that they accept less than the total of what you owe. Unfortunately, […]

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  • Uber tax tips (also Lyft and other ridesharing drivers)

    Posted 2 years ago in Small Business TipsTaxes
    by Karin Hernandez

    If you’re a driver for Uber, Lyft, or some other ridesharing service, you may not be aware that you’re considered an independent contractor, or in other words, self-employed. Lawsuits are pending in some states that contend that you should be treated like an employee but until that is all sorted out, for tax purposes, you’ll […]

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