Essential tools for entrepreneurs and taxpayers that facilitate tax and business planning.
Business Structure
Quarterly Taxes
Startup Checklist
Break-Even Point
ITIN Eligibility
Tax Dates
Business Structure
Select your business characteristics to receive recommendations on the most suitable legal structure.
Recommendation:
LLC (Limited Liability Company)
Advantages:
Limited liability for owners
Flexible taxation (pass-through taxation)
Fewer formalities than a corporation
Flexible management structure
Disadvantages:
Potentially higher self-employment taxes
Cannot issue stock to attract investors
Regulations vary by state
Corporation (C-Corp / S-Corp)
Advantages:
Limited liability for shareholders
Can issue shares to attract investment
Potential savings on self-employment taxes (S-Corp)
Clear structure for multiple owners
Disadvantages:
More compliance requirements and documentation
Potential double taxation (C-Corp)
Higher initial costs
Less operational flexibility
Sole Proprietorship
Advantages:
Simple and inexpensive to establish
Complete control over the business
Less paperwork and legal requirements
Simplified tax filing
Disadvantages:
Unlimited personal liability
Difficulty obtaining financing
No separation between personal and business finances
Disclaimer:
This tool provides general information and does not constitute professional advice.
Consult with an expert for recommendations specific to your situation.
Estimate your potential federal quarterly tax payments as a self-employed individual or small business.
$
Self-Employment Tax (annual):$0.00
Federal Income Tax (annual):$0.00
Quarterly Payment Estimate:$0.00
Disclaimer:
This tool provides an estimate based on simplified federal rates. Actual taxes may vary.
Consult with a tax professional for accurate advice.
Startup Checklist
A general checklist of common steps when starting a business in the U.S.
Checklist
0/8 completed
Disclaimer:
This list is general and may not include all requirements specific to your location or industry.
Consult with professionals for specific guidance.
Break-Even Point
Calculate how many units you need to sell to cover all your costs.
$
$
$
You need to sell
0 units
per month to reach your break-even point.
Disclaimer:
This calculation is a basic approximation. The actual break-even point may vary depending on additional factors.
Consult with a financial professional for a detailed analysis.
ITIN Eligibility
Check if you might need and be eligible for an Individual Taxpayer Identification Number (ITIN).
Are you a nonresident alien who needs to file a U.S. tax return (e.g., for U.S. source income)?
Are you a resident alien (based on days of presence) filing a joint return with a U.S. citizen/resident spouse?
Are you a dependent or spouse of a U.S. citizen/resident?
Are you a dependent or spouse of a nonimmigrant visa holder?
Disclaimer:
This tool serves as a general guide. ITIN eligibility may depend on additional factors.
Consult with a tax professional for a complete assessment.
Tax Dates
Important federal tax deadlines (subject to change).
January 31
Deadline to send W-2 forms to employees and 1099-NEC to contractors.
March 15
Deadline for S-Corps (Form 1120-S) and Partnerships (Form 1065) tax returns (for calendar year filers).
April 15
Deadline for personal tax returns (Form 1040) and C-Corps (Form 1120). Deadline for 1st estimated tax payment.
June 15
Deadline for 2nd estimated tax payment.
September 15
Deadline for 3rd estimated tax payment.
October 15
Extended deadline for personal tax returns (if extension was filed).
January 15
(of following year): Deadline for 4th estimated tax payment.
Disclaimer:
Dates may vary if they fall on weekends or holidays. Always verify current dates on the IRS website.
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