#tax-compliance
Stay compliant with tax regulations and filing requirements
Illinois' Interchange Fee Prohibition Act bans swipe fees on the sales tax and gratuity portions of card transactions starting July 1, 2026 — the first US law of its kind. Learn how to prove tax and tips per transaction, choose between the real-time exemption and the 180-day rebate, and structure a chart of accounts that captures every dollar either way.
Mecklenburg County's combined sales tax rose to 8.25% on July 1, 2026 — the highest rate in North Carolina. This is the point-of-sale, invoicing, filing, and bookkeeping checklist Charlotte-area businesses need to collect and remit the new rate correctly.
Under IRS Publication 463 and Section 274(d), a business mileage deduction requires a contemporaneous log recording the date, destination, miles, and business purpose of every trip — the Cohan rule cannot rescue inadequate records. Here is how to build a log that survives an audit at the 2026 rate of 72.5 cents per mile.
Hit one estimated-tax safe harbor and the IRS underpayment penalty disappears — pay 90% of this year's tax or 100% of last year's (110% if prior-year AGI topped $150,000) through timely quarterly payments. Covers the 2026 penalty rate (7% Q1/Q3, 6% Q2, compounded daily), the four due dates, and a bookkeeping system that keeps you penalty-free.
South African freelancers pay provisional tax in two IRP6 installments — 31 August and 28/29 February — by estimating full-year taxable income themselves; missing a deadline or estimating below 90% of actual income triggers a 10% late-payment penalty, a 20% underestimation penalty, and interest from the effective date.
Section 127 lets an employer give each employee up to $5,250 a year, tax-free, toward tuition or student loan payments — now permanent under the One Big Beautiful Bill Act and indexed for inflation from 2027. This guide covers the written-plan and nondiscrimination requirements, the W-2 treatment, and a clean chart-of-accounts setup.
Childcare centers that book private tuition, CCDF/CCW subsidy reimbursements, and CACFP meal reimbursements to one income line can't reconcile deposits to attendance or meal counts, which is the most common finding in subsidy and CACFP audits.
A craft brewery accounting guide covering the 2026 federal beer excise tax rates ($3.50/$16/$18 per barrel under CBMA), how to book keg deposits as a liability instead of revenue, and a channel-level chart of accounts that separates taproom, self-distribution, and wholesale margins.
The IRS assessed about $4.8 billion in estimated-tax penalties on 15 million-plus returns in FY2024. Four fixable bookkeeping habits — commingled accounts, spreadsheet ledgers, personal credit for business spending, and lax records — cause most of the damage, and each has a same-day fix.
Starting September 1, 2026, France requires structured e-invoices (Factur-X, UBL, or CII) for domestic B2B transactions, and US sellers with no French establishment must supply clean, itemized invoice data so their French customers can meet the parallel e-reporting obligation.
The IRS requires S-corp and C-corp Designated Officials to revalidate Business Tax Account access every June 15 through July 29 or lose online access to payments, transcripts, and notices until they reapply from scratch.
Maryland's new 3% sales tax on IT, data processing, software publishing, and computer systems design services (NAICS 518, 519, 5132, 5415) took effect July 1, 2025 with no revenue threshold, so SaaS founders, freelance developers, and IT consultants with even one Maryland customer may owe it — this guide covers what's taxable, how sourcing and MPU certificates work, and how to book the liability separately from your 6% sales tax.
