What Business Expenses Are Deductible?
Expenses are deductible if ordinary and necessary for your business. What qualifies, what doesn't, and 2026 rules for home office, car and startup costs.
All guides
Plain answers for side hustles and small businesses, sourced from the IRS and SBA.
Taxes & Records
Topic pageHow to Track Business Expenses
Track business expenses by keeping receipts and statements, using a separate business account and logging each cost by Schedule C category, as the IRS expects.
Quarterly Estimated Taxes, Explained
You owe quarterly estimated taxes if you expect to owe $1,000 or more. See the 2026 due dates, how to figure each payment, safe harbors and how to pay the IRS.
Do You Have to Report Side Hustle Income?
Yes. Side hustle income is taxable even without a 1099. Learn the $400 self-employment tax rule, which forms to file, and the 2026 1099-NEC and 1099-K limits.
Starting a Business
Topic pageHow to Find a Small Business Idea
Find a small business idea by starting from your skills, then testing demand and competition with free SBA guidance and Census data before you spend money.
How to Write a Business Plan
Pick a traditional or lean format, then work through each section: market, customers, costs and money. The SBA's outline, plus where to get free help.
LLC vs. Sole Proprietorship
An LLC can shield your personal assets from business debts; a sole proprietorship can't. By default both are taxed the same way. How they differ, with sources.
Money & Getting Paid
Topic pageGross Profit vs. Net Profit
Gross profit is sales minus returns and cost of goods sold. Net profit is what's left after all expenses. See how IRS Schedule C figures both, with examples.
How to Write an Invoice
Put your details, the customer's, a unique number, dates, itemized charges, any sales tax and payment terms on every invoice. Here's what US rules require.
Marketing
Topic pageSocial Media Marketing for Small Business
Pick one or two platforms your customers use, post useful content on a schedule, reply to people, measure results, and follow FTC rules on reviews and ads.