Tax Resources for Accountants and Small Businesses (U.S.)
California economic nexus determines when a remote or out-of-state seller is required to collect and remit California sales and use tax based on sales activity in the state. California sales and use tax is...
The North American Industry Classification System (NAICS) is the official industry classification system used by federal statistical agencies to collect, analyze, and publish data about the U.S. economy. In the United States, NAICS is...
Definition of Small Business For U.S. government contracting purposes, a small business is defined by federal regulation—not by common or commercial usage. Eligibility is determined using industry-specific size standards established and enforced by the...
Economic nexus determines when a business is required to collect and remit sales tax in a state based on its economic activity, rather than a physical presence. This concept is especially important for remote...
Texas economic nexus determines when an out-of-state seller is required to collect and remit Texas sales and use tax based on the seller’s economic activity in the state rather than physical presence. Economic nexus...
Texas allows qualifying remote sellers to simplify local tax collection by electing a single local use tax rate instead of collecting destination-based local sales and use taxes. This option is designed to reduce compliance...
Handbook for Employers (M-274) is an official guide issued by the U.S. Citizenship and Immigration Services (USCIS). It provides detailed instructions for U.S. employers on how to properly complete and retain Form I-9 (Employment...
Federal payroll tax forms are used by U.S. employers to report wages paid to employees and to file and pay required payroll taxes. These forms are administered by the Internal Revenue Service (IRS) and are...
This payroll compliance guide provides an overview of employer payroll responsibilities in the United States. It explains federal payroll requirements, tax obligations, wage rules, and recordkeeping duties that apply to employers regardless of size...
Sales tax in the United States is imposed at the state and local level, not by the federal government. Each state sets its own rules for sales and use tax, including what is taxable,...
Navigating state taxes in the United States can be complex because each state has its own tax agency, rules, and filing procedures. If you are an individual taxpayer, a business owner, or a tax...
California Employment Development Department (EDD) The California Employment Development Department (EDD) administers the state’s payroll tax programs, including Unemployment Insurance (UI), Employment Training Tax (ETT), State Disability Insurance (SDI), and California Personal Income Tax...
What Is the California Payday Notice Poster? The California Payday Notice Poster is a required workplace posting issued by the California Division of Labor Standards Enforcement (DLSE). It informs employees of the employer’s regular...
Texas use tax applies when taxable goods or services are purchased without Texas sales tax being collected at the time of sale. This commonly happens with out-of-state purchases, online transactions, or items bought from...
Codes for the Principal Business or Professional Activity classify sole proprietorships by the type of activity they are engaged in to facilitate the administration of the Internal Revenue Code. These six-digit codes are based...
Abstract Adjusted Current Earnings (ACE) is an IRS-defined income measure formerly used in the calculation of the Corporate Alternative Minimum Tax (AMT). Although the AMT was repealed for most corporations after 2017, ACE remains...
A Cafeteria Plan, also known as a Section 125 plan, is an employer-sponsored benefit arrangement that allows employees to choose between taxable wages and certain qualified, tax-free benefits. These plans are regulated under Internal...
This checklist is based exclusively on IRS authority (Section 125, IRS regulations, and IRS publications) and includes relevant internal resources from AccountingPortal.com. 1. Determine Eligibility and Plan Purpose Confirm that a cafeteria plan must...
Small private companies in the United States are not legally required to follow U.S. GAAP unless it is imposed by lenders, investors, or contractual agreements. However, many companies choose to prepare structured financial statements...
The gig economy – also called the sharing or on-demand economy – includes income earned from digital platforms and apps such as ridesharing, delivery services, freelance marketplaces, home rentals, or project-based work. According to...
Small private companies in the United States are not required to file Exchange Act reports such as Forms 10-K and 10-Q with the U.S. Securities and Exchange Commission (SEC). Those forms apply to public...