Sometimes a limited liability company, or LLC, has a year with no business activity. For example, a newly formed LLC might not have started doing business yet, or an older LLC might have become ...

The 2025 tax filing season is in full swing at the IRS. And although doing one’s taxes is a near-universally dreaded task, there is a glimmer of good news: It doesn’t have to be expensive. The IRS has ...

What is self-employment tax? The federal self-employment tax is composed of Social Security and Medicare taxes, which are also known together as the Federal Insurance Contributions Act (FICA). For ...

Learn how to file taxes for your side hustle, from reporting income and claiming deductions to paying self-employment taxes and avoiding IRS penalties.

If you're gearing up to file your tax return this year but are afraid you're going to run out of time, it's possible to file for an extension. This can give you six additional months to get your ...