If you live in the United States but are not eligible for a Social Security Number (SSN), you may need an ITIN (Individual Taxpayer Identification Number) to meet your tax obligations and access certain tax benefits. The ITIN is issued by the Internal Revenue Service (IRS) and serves as a tax identification number for foreign individuals, residents or non-residents, who need to file a tax return in the United States.
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Running a business involves managing multiple financial responsibilities: from preparing tax returns to maintaining accurate accounting records and handling your employees’ payroll. At Naebom Business, we understand that every business is unique, which is why we offer comprehensive services that simplify your finances and allow you to focus on growing your company.
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On July 4, 2025, President Donald Trump signed the law known as the “One Big Beautiful Bill” (OBBBA), a comprehensive tax reform that introduces significant changes for small businesses in the United States. This legislation provides new opportunities to reduce taxes, encourage investments, and improve competitiveness. Below, we explain how your business and your individual tax return can benefit from this law.
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If you run a small business or are self-employed, you've probably heard the term “tax deduction.” But what does it really mean, and how can it save you money? In this article, we explain what a tax deduction is in simple terms, how it works, and how it can benefit your business financially.
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Starting a business? One of your first decisions is choosing a structure: Sole Proprietor or LLC? Both have pros and cons when it comes to taxes, protection, and paperwork. In this post, we compare both so you can decide what fits your business goals best.
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If you're self-employed, a freelancer, or a contractor, chances are you’ll receive a 1099 during tax season. But what does it mean? This post explains what a 1099 is, why it matters, and how to handle it properly so you avoid penalties and maximize deductions.
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Many people only think about taxes during tax season—but that’s often too late to make big changes. That’s where tax planning comes in. This article explains how early planning can help you save money, avoid surprises, and take control of your finances all year long.
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When you're starting a business, it's common to mix expenses. But as your company grows, separating personal and business finances is key. Discover how it helps with taxes, legal protection, and building credit.
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If you're self-employed or earn income without tax withholding, you may need to pay estimated taxes quarterly. Learn who needs to pay, when they're due, and how to stay compliant with the IRS.
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