Hiring Your First Employee: Tax and Payroll Obligations You Can't Skip
Hiring your first W-2 employee means new payroll tax obligations. This 2026 guide covers FICA, FUTA, Form 941, deposit deadlines, and Minnesota requirements.
John C Thompson, EA
Tag: Business Structure
7 posts
Employee vs. Independent Contractor: How the IRS Decides Worker Classification
Deciding between 1099 and W-2 for your first hire? Learn the IRS worker classification test, misclassification penalties, and how to document your decision.
John C Thompson, EA
Which Business Entity Is Right for You? A Decision Framework
Sole prop, partnership, S Corp, or C Corp? Here's a practical framework to help you choose the right business structure for your situation.
John C Thompson, EA
New Business Tax Obligations: Your First-Year Checklist
Starting a business in Minnesota? This complete first-year tax checklist covers EIN, entity structure, estimated taxes, bookkeeping, and every obligation you need to know.
John C Thompson, EA
Strategic Year-End Moves for Business Owners Under the New Tax Law
Make these strategic tax moves before December 31st to maximize your business tax savings under the new OBBBA provisions. Equipment purchases, R&D expensing, and QBI planning strategies explained.
John C Thompson, EA
Understanding Tax Forms and Entity Types (Business)
Navigate business tax forms by entity type including sole proprietorships, partnerships, LLCs, and corporations. Learn which forms to file and when they're due.
John C Thompson, EA
BOI Reporting: What You Need to Know
Learn about Beneficial Ownership Information reporting requirements for businesses. Understand who must file, deadlines, and compliance obligations under the Corporate Transparency Act.
John C Thompson, EA