Small Business insights

Source-cited explainers on Small Business, in plain English or Spanish, for the individuals and businesses we serve across Miami and beyond.

Small Business
Estimated Quarterly Taxes for Self-Employed Workers in Miami: IRS Rules Explained
Freelancers, sole proprietors, and partners who work for themselves in Miami must pay income and self-employment tax as they earn it. Here is who owes estimated tax, how the four payment periods work, and how to avoid the underpayment penalty.
July 15, 202610 min read
Small Business
Florida Small Business Tax Setup: State Filings and Registrations Every New Owner Should Know
After you form a Florida entity, the paperwork just starts. Here is how the Sunbiz filings, the Florida Department of Revenue sales tax registration, and ongoing state deadlines fit together for a new small business.
July 3, 20268 min read
Small Business
Section 41 R&D Tax Credit: How Small Businesses Claim Qualified Research Expenses on Form 6765
The research credit under the Internal Revenue Code rewards US businesses for wages, supplies, and contractor fees paid on qualifying research activities. Qualified small businesses under $5 million in gross receipts can apply up to $500,000 against payroll taxes each year.
July 1, 20264 min read
Small Business
Florida Sales Tax Registration: What Triggers the DR-1 Requirement
Any Florida business that makes taxable sales, admits customers for a fee, or rents property must register with the Department of Revenue before its first taxable transaction. The registration form is the Florida Business Tax Application, Form DR-1.
June 17, 20264 min read
Small Business
Tax Guide for Content Creators: 1099-NEC, Schedule C, and Quarterly Payments
YouTube, Instagram, and TikTok creators who earn income from brand deals, ad revenue, or digital products are self-employed under IRS rules. Here is how to report that income, pay self-employment tax, and meet your quarterly obligations.
June 12, 20264 min read
Small Business
Small-Business Bookkeeping for Florida LLCs: What to Track and Why It Matters
Florida is home to over 3.5 million registered business entities. For South Florida small businesses that operate in Spanish, bilingual accounting keeps records compliant, deductions documented, and quarterly filings on schedule.
June 6, 20264 min read
Small Business
Florida Economic Nexus: What Remote and E-Commerce Sellers Must Know About the $100,000 Threshold
Since July 1, 2021, Florida law requires out-of-state businesses with more than $100,000 in prior-year taxable remote sales to register, collect sales and use tax, and file electronically. Here is what remote and e-commerce sellers need to understand.
June 3, 20265 min read
Small Business
Independent Contractor or Employee: How the IRS Common-Law Test Works
Misclassifying a worker as a contractor exposes your business to back employment taxes, interest, and penalties. Here is how the IRS three-factor framework applies, and what to do when the status is unclear.
May 29, 20264 min read
Small Business
Work Opportunity Tax Credit: A Small-Business Guide to WOTC Eligibility and Filing
The Work Opportunity Tax Credit lets employers reduce federal taxes by claiming a credit on wages paid to hires from ten targeted groups facing barriers to employment. Here is how WOTC works, who qualifies, and how to file Form 5884.
May 26, 20264 min read
Small Business
S-Corp Reasonable Compensation: IRS Rules and the Watson Case Standard
S-corporation shareholder-employees who perform more than minor services must be paid a reasonable salary subject to FICA, FUTA, and federal income tax withholding. Here is the IRS framework and the case law.
May 21, 20264 min read
Small Business
Form 7203 Explained: S-Corporation Shareholder Stock and Debt Basis Limits
Form 7203 is the IRS workpaper that documents your S-corporation stock and debt basis when you claim losses, take distributions, dispose of stock, or receive a loan repayment. Here is how it works.
May 21, 20263 min read

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