Business Taxes Articles

If you structure your business as a partnership or S Corporation, there is one form you need to learn like the back of your hand. And, you need to make sure your partners know the form, too. That oh-so-important form is Schedule K-1. So, what is Schedule K, and what does it do?

As a business owner, there are a number of taxes you may be subject to paying or remitting. One of these taxes is privilege tax. So, what is privilege tax, and are you required to pay it? Get the facts straight about the different types of privilege tax below.

If you profit from your investments, this one’s for you. You’re responsible for paying capital gains tax. And depending on how much money you make annually, you may also be responsible for net investment income tax. What is net investment income tax?

Paying tax on your company’s incoming money is all part of being a business owner. But, not all money is taxed the same. If you earn money selling investments, capital gains tax comes into play. Read on to learn what is capital gains tax and why it matters in business.

As a business owner, there are a ton of taxes you need to keep on your radar. One tax you may need to pay to your state is franchise tax. But, what is franchise tax? Get the scoop about this type of tax and whether or not your business is responsible for it.

The Family and Medical Leave Act (FMLA) requires certain businesses to offer employees unpaid leave for qualifying situations. But, there’s no federal law that requires you to offer employees paid family and medical leave. If you voluntarily decide to pay employees who use this type of leave, you could be eligible for an FMLA tax […]

Taxes are a big part of running a business, and they can take a toll on your bank account. But sometimes, you can receive an income tax refund for your business. If you do, you need to know how to record a journal entry for income tax refund in your books.

If you’re like most taxpayers, you look for every possible deduction when filing your tax return for business. One way to lower your tax liability is to claim business tax credits. And due to the coronavirus pandemic, there are also a number of temporary tax credits for employers to claim.

As a business owner and consumer, you’re likely familiar with sales tax. After all, the majority of states have some type of sales tax. But, you may be less familiar with use tax and how it works compared to sales tax. Want to find out the difference between sales tax vs. use tax? Keep reading.