Tax Hive Blog

Enjoy these timely and informative articles that can help you make informed decisions about your business.

Small Business Taxes for Beginners

Small Business Taxes for Beginners

In 2021 a record 5.4 million applications were filed for new businesses. 1.8 million of those applications were for businesses planning to hire employees. These new business owners will be ... READ ARTICLE
What is a Qualified Retirement Plan-fullwidth

What is a Qualified Retirement Plan and How do I Set One Up?

What is a Qualified Retirement Plan (QRP)? The IRS defines a QRP as one that “satisfies the Internal Revenue Code in both form and operation.” The tricky part is in ... READ ARTICLE
Startup R&D Tax Credit

Startup R&D Tax Credit: What is it and How Can You Claim it?

What is the Startup R&D Tax Credit? Many new business owners overlook the Startup R&D Tax Credit to reduce small business taxes. This could be due to many small business ... READ ARTICLE
elf-employed tax deduction cheat sheet

Self Employed Tax Deduction Cheat Sheet

Use this self employed tax deduction cheat sheet to take advantage of the many business-related tax deductions. You can reduce your business income by a chunk before you check the ... READ ARTICLE
How-to-File-for-a-Business-Tax-Extension-in-2022-fullwidth

How To File a Business Tax Extension in 2022

As a business owner, you need to keep track of important dates throughout the year. Few are more important than income and payroll tax filings and quarterly estimated payments. Other ... READ ARTICLE
California main street small business tax credit

What is the Main Street Small Business Tax Credit?

Economists have not yet accurately measured the damage of the COVID pandemic to the U.S. economy, especially to small local business. In 2020 and 2021, every sector of American business ... READ ARTICLE
tax planning to minimize small business taxes

How Does Tax Planning Minimize Small Business Taxes?

Small business is the foundation of the U.S. economy, and the typical small business owner works long hours with few days off to reach success. Success for a business is ... READ ARTICLE
Biden’s tax plan for small business taxes

Biden’s Tax Plan for Small Business

The slow progress of the Build Back Better Act in Congress has not slowed the Biden Administration’s plans to enact changes in the tax code. There are ongoing plans for ... READ ARTICLE
Fringe Benefit Overview from the IRS

Fringe Benefit Overview from the IRS

The IRS considers fringe benefits to be a form of pay (not money) for the performance of services. An example could be allowing an employee to use a company vehicle ... READ ARTICLE

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