Tax Disclaimer: This article is for informational purposes only and does not constitute tax or legal advice. Business tax obligations vary by structure, state, and industry. Consult a licensed tax professional or CPA before making business tax decisions.

Small Business Tax Hub: Freelance, LLC, S-Corp Guides

Key Takeaways

The tax code treats small business owners very differently from W-2 employees — requiring self-employment tax, quarterly estimated payments, and entity structure decisions that save or cost thousands annually
Entity structure choice (sole proprietor, LLC, S-Corp) has major tax implications — an S-Corp election alone can save high-earning self-employed individuals thousands in self-employment tax
Missing quarterly estimated tax payments triggers penalties — this hub covers everything from first-time Schedule C filing to S-Corp election evaluation

Last updated: March 2026 | Reviewed by Taxo Editorial Team

Running a small business means you are also your own tax department. Self-employment tax, quarterly estimated payments, deductions you did not know you could claim, entity structure choices that save (or cost) thousands of dollars each year. The tax code treats small business owners very differently from W-2 employees, and the rules change depending on whether you are a sole proprietor, an LLC, an S-Corp, or something else.

This hub collects every small business and self-employment tax guide on Taxo. From the freelancer filing their first Schedule C to the established business owner evaluating S-Corp election, every guide you need is organized below.

Getting Started: Small Business Tax Basics

New to business taxes? Start with these comprehensive guides that explain how the system works.

Self-Employment Tax

Quarterly Estimated Taxes

If you are self-employed, you likely owe quarterly estimated taxes. Missing a payment triggers penalties.

Business Income Reporting

Small Business Deductions

The IRS allows dozens of deductions for business expenses. These guides help you claim every dollar you are entitled to.

Tax Software for Small Business

Industry-Specific Guides

Different types of businesses face different tax rules. These guides address the specifics.

Best States for Business Taxes

Best States for Small Business Tax 2026

Frequently Asked Questions

Do I need to pay quarterly estimated taxes? If you expect to owe $1,000 or more in taxes for the year, you are generally required to make quarterly estimated payments. See Quarterly Estimated Tax Guide.

What is the self-employment tax rate? The self-employment tax rate is 15.3% (12.4% for Social Security + 2.9% for Medicare) on net self-employment income. You can deduct the employer-equivalent portion. See Self-Employment Tax Guide.

Can I deduct my home office? Yes, if you use a dedicated space regularly and exclusively for business. You can use the simplified method ($5 per square foot, up to 300 sq ft) or the regular method. See Home Office Deduction Guide.

When should I elect S-Corp status? Generally, when your net self-employment income exceeds $50,000 to $80,000 per year, S-Corp election can reduce self-employment tax. The specifics depend on your situation. Consult our Small Business Tax Guide and a CPA.

Sources

Internal Revenue Service — irs.gov
IRS Publication 334 — Tax Guide for Small Business
IRS Publication 535 — Business Expenses
Small Business Administration — sba.gov