{"id":19167,"date":"2025-08-07T23:14:06","date_gmt":"2025-08-07T23:14:06","guid":{"rendered":"https:\/\/finderica.com\/?p=19167"},"modified":"2025-08-07T23:14:06","modified_gmt":"2025-08-07T23:14:06","slug":"small-business-taxes-for-beginners-a-2025-guide","status":"publish","type":"post","link":"https:\/\/finderica.com\/?p=19167","title":{"rendered":"Small-Business Taxes for Beginners: A 2025 Guide"},"content":{"rendered":"
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Small-business taxes aren\u2019t one-size-fits-all. You\u2019ll need to take specific steps come tax time. Those depend on your <\/span>business\u2019s structure<\/span> and whether you have employees, among other factors. <\/span><\/p>\n<\/div>\n

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If this is your first time prepping for small-business taxes, start by checking off some universal \u201cmusts.\u201d These tasks will help you understand your business\u2019s tax responsibilities and the tax breaks available to you.<\/span><\/p>\n<\/div>\n

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Here\u2019s a guide to small-business taxes for beginners. <\/span><\/p>\n<\/div>\n

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\ud83e\udd13<\/span>Nerdy Tip<\/span><\/p>\n

It\u2019s critical to keep your business and personal finances separate from the get-go. That way, you know exactly how much your business made and spent. Not doing so can also impact your personal liability protections if you\u2019re not a sole proprietorship. <\/p>\n

Accounting software can help you keep track of your business finances and maintain accurate records. We recommend most businesses use it, unless they\u2019re small enough for a spreadsheet instead. Explore our <\/span>top accounting software picks<\/span> to find the right option for your business.<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n

1. Confirm your business structure and tax classification\u00a0<\/span><\/h2>\n
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This is an important first step because it helps you determine which tax forms and deadlines apply to you. <\/span><\/p>\n<\/div>\n

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There are five main business structures for tax purposes: <\/span><\/p>\n<\/div>\n

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Don\u2019t remember which structure you chose? LLCs, corporations and partnerships typically need to register with the state they\u2019re located in. In that case, you should be able to confirm your business\u2019s entity via your state department\u2019s online portal.<\/span><\/p>\n<\/div>\n

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If your business is a partnership, corporation or sole proprietorship, your tax classification follows suit. Figuring out <\/span>LLC business taxes<\/span> is a little trickier. <\/span><\/p>\n<\/div>\n

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The IRS doesn\u2019t have a fixed way of taxing all LLCs. Instead, it taxes single-member LLCs as sole proprietorships and multi-member LLCs as partnerships. That\u2019s the default, unless you chose to be classified as a corporation when you started your business. This would have involved filling out specific forms. <\/span><\/p>\n<\/div>\n

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Stressed About Taxes or Bookkeeping?<\/p>\n<\/div>\n

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Get matched with a vetted expert who will handle it for you.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

2. Determine your EIN<\/span><\/h2>\n
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Most businesses need a business tax ID, also called an employer identification number (EIN), to file taxes. These businesses include LLCs, partnerships, corporations and any operation with employees. <\/span><\/p>\n<\/div>\n

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The IRS <\/span>doesn\u2019t require sole proprietors to get an EIN<\/span> if they don\u2019t have employees. However, having an EIN can put them in a better position to grow down the road. For example, businesses generally need an EIN to hire employees. Additionally, some banks require EINs to open a business bank account. <\/span><\/p>\n<\/div>\n

3. Brush up on tax forms and deadlines\u00a0<\/span><\/h2>\n
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After you confirm your business structure, tax classification and EIN, you can start filling out your tax forms. Even if it\u2019s not tax time yet, it\u2019s still a good idea to know these forms and their deadlines. <\/span><\/p>\n<\/div>\n

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Here are the main types of taxes your business may be responsible for filing, along with when each is due. <\/span><\/p>\n<\/div>\n

Federal income taxes <\/span><\/h3>\n
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These are the deadlines for most businesses:<\/span><\/p>\n<\/div>\n

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