Self-Employment Taxes

3 Things Nobody Tells First Generation Business Owners About the IRS When They Start Their Business

93% of the taxpayers I have helped with back taxes in the past 4 years were self-employed. Over half of those people were also...

How Are LLCs Taxed?

Did you go into business to do taxes? A select few business owners do. So it is no surprise that taxes are one of the most confusing...

How to Make an Online Payment to the IRS Using Your Bank Account

Originally, taxpayers could only make payments to the IRS by check and money order. Today the IRS offers a variety of ways to pay,...

How to Make Quarterly Estimated Tax Payments

Failure to make estimated tax payments is one of the top reasons why taxpayers owe the IRS. Over the past 11 years, I've realized that...

5 IRS Penalties to Avoid in Your Business

When taxpayers don't meet their tax obligations the IRS charges penalties. The reasons range from not filing on time to not providing...

How to Fill out a W9 Form as a Sole Proprietor or Single-Member LLC

One of the nice things about being self-employed is the flexibility you have. But with this newfound freedom, there is more paperwork. As...

5 Keys to Prevent a Small Business Tax Nightmare

Timalyn at the 2022 Diverse Entrepreneurship Summit giving a presentation. This past June, I spoke at the Diverse Entrepreneurship Summit...

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