According to the United States Internal Revenue Service (IRS), businesses can incur four basic kinds of federal taxes. They include income tax, self-employment tax, employment tax, and excise tax. In ...
Collecting revenue is perhaps the most critical function of the Internal Revenue Service, which brought in more than $4.9 trillion in gross taxes during the 2022 fiscal year. From 2021 to 2022, seven ...
Business taxpayers are often entitled to extra self-employed and small business tax deductions, which can potentially lead to ...
Not all businesses are created equal—nor are they taxed alike. Our helpful breakdown covers various business tax entities and how they’re taxed It’s crucial to understand your business entity’s unique ...