#accountants

Many small businesses start out as sole proprietorships. This structure is simple and inexpensive to establish and maintain — and it gives the owner direct access to profits without having to take formal distributions. But it also makes your taxes more complicated than when you were a W-2 employee. Here are some federal tax issues to consider if your business operates as a sole proprietorship. Reporting income and expenses You’ll report income and expenses from your business activities

Did you know USPS has updated their postmark process? The USPS changed its postmark system effective Dec. 24, 2025, now defining the postmark as the date of the first automated processing, which may differ from the drop-off date. This impacts tax filings because documents must bear a postmark on or before the due date to be considered timely under IRC Sec 7502. To ensure compliance, taxpayers should request a manual postmark at a USPS retail counter or use Registered/Certified Mail for proof of