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Posts Tagged ‘business tax deductions’
Business Tax Payments: Which Are Deductible?
Business owners tend to have more tax responsibilities than individual taxpayers. They are not only required to withhold taxes from the paychecks of their employees but also pay other employment taxes, such as Social Security and Medicare tax. There are, however, certain business tax payments they can deduct as business expenses. Here’s a quick look at some of the different taxes businesses typically pay and which may be deductible. Which ...
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Business Tax Myths to Watch Out For
The IRS keeps a close watch on business tax returns. In 2015, the tax agency examined early 62,000 business returns, a slight increase from 2014. Typically, those with income and larger businesses have greater chances of being examined. Unintentional errors or simple oversights can be dangerous for businesses. A single error can call into scrutiny not only your tax information for 2015 but possibly from previous years. To help businesses file accurately, The National Association of ...
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