Business Taxes Articles

Understanding your business tax obligations is not always easy. There are different ways a business can be taxed. One method of taxation is a pass-through tax. If you own a small business, you need to know about pass-through taxation.

As a small business owner, you probably spend a lot of time and money on taxes. But, not all businesses have to pay taxes. Have you ever wondered, “Is my business tax exempt?”

Did you make an error on a tax return for your small business? Your first time filing taxes for small business can be tricky. You can file an amended tax return to fix mistakes and omissions that date several years back. While there are some advantages to filing an amended tax return, you do not need […]

Small business tax deductions decrease your taxable income. This means more of the money you earn stays in your pocket. You can deduct your business’s expenses throughout the year from your taxable income.

As a small business owner, you have a lot of government documents and tax forms for small business to keep up with. You might be responsible for filing and paying excise tax if you sell certain products or services at your company. What is excise tax?

Sometimes, it’s hard for small business owners to catch a break. But, if you made large purchases for your company this year, you might be able to deduct them on your tax return. You can write off expenses by choosing the safe harbor election for small taxpayers.

If you’re like many small business owners, you need to collect sales tax on some of your offerings. Your sales tax responsibilities depend on your location. This fact surely begs the question: do I charge sales tax for out-of-state customers? To stay compliant, understand which sales tax laws apply to your business. And, you need […]

If you run a farming business, calculating your profits and losses (P&L) for the year can be difficult. The good news is that the Schedule F, Profit or Loss for Farming, can help you understand your P&L. If you operate a farming business, you must file a Schedule F. But what is a schedule F […]