Form 433-A – Collection Information Statement for Wage Earners and Self-Employed Individuals
Form 433-A is an IRS form used to collect financial information from taxpayers who owe money, helping the IRS determine how much you can afford to pay. This form is a critical step in working out a payment plan with the IRS.
Form 8832 – Entity Classification Election (for LLCs and other entities)
Form 8832 is an IRS form used by certain businesses to choose how they want to be taxed for federal income tax purposes. This decision can have a big impact on your business's tax liability.
Form 2553 – Election by a Small Business Corporation (S-Corp Election)
Form 2553 is the IRS form used by eligible small businesses to elect to be treated as an S corporation for tax purposes. This election can offer significant tax advantages.
Form 8233 – Exemption From Withholding on Compensation for Independent Personal Services of a Nonresident Alien Individual
Form 8233 allows eligible nonresident aliens to claim exemption from U.S. income tax withholding on compensation for independent personal services, based on tax treaties. It helps avoid overpayment of taxes.
Form 1040-NR-EZ – U.S. Income Tax Return for Certain Nonresident Aliens With No Dependents
Form 1040-NR-EZ is a simplified U.S. income tax return for certain non-resident aliens who have no dependents and meet specific criteria. It's a way for eligible non-residents to file their taxes in the US without too much hassle.
Form 1040-NR – U.S. Nonresident Alien Income Tax Return
Form 1040-NR is the tax return form that non-resident aliens use to report their income and pay taxes in the United States. It's important for anyone who isn't a U.S. citizen or permanent resident but has income from U.S. sources.
Form 8995-A – Qualified Business Income Deduction (Complex Computation)
Form 8995-A is used to calculate the Qualified Business Income (QBI) deduction when things get a bit more complicated, requiring a detailed breakdown of your business income. It helps you figure out how much of your business profits you can deduct from your taxes.
Form 8995 – Qualified Business Income Deduction (QBI) Simplified Computation
Form 8995 is a simplified tax form used by individuals to claim the Qualified Business Income (QBI) deduction, which can lower your taxes if you own a business or are self-employed. Using this form can be an easier way to calculate this important tax break.
Form 8829 – Expenses for Business Use of Your Home (previously listed but highly relevant for small businesses)
Form 8829 is the IRS tax form used by self-employed individuals and certain other taxpayers to calculate and claim expenses for the business use of their home, commonly known as the home office deduction. It helps reduce your tax liability by allowing you to deduct a portion of your home-related expenses.
Form 7202 – Credits for Sick Leave and Family Leave for Certain Self-Employed Individuals
Form 7202 is used by self-employed individuals to claim tax credits for qualified sick and family leave. It's designed to provide a financial cushion for those who have to take time off work for these reasons.