Our blog is where we share tips, guides, and insights to help freelancers and small business owners manage expenses, stay tax-ready, and grow their business.
The estimated tax penalty is daily-compounded interest at the IRS underpayment rate, charged on each installment you paid late. This guide shows how Form 2210 figures the number, why the IRS usually computes it for you, and the three ways to reduce or erase it.
For 2025 and 2026 the federal 1099-K floor is back to over $20,000 and 200 transactions, after the One Big Beautiful Bill reversed the $600 threshold. This guide corrects the six costliest 1099-K myths against the IRS, from taxing a friend's repayment to copying Box 1a onto Schedule C.
