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Business Tax Rates: How Much Do Small Businesses Pay in Taxes?

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From tax law revisions to the overwhelming number of forms, understanding your small business tax rate and how to file can be difficult. Your business entity type and preferred filing status will also affect your tax rate. For example, LLCs that opt for the IRS to tax them as corporations are subject to corporate tax rates.

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Friday Footnotes: Staffing Disasters; Let’s Rag on EY; A Warning For Tax Practitioners | 4.14.23

Going Concern

The firm had a contract to perform the 2022 year-end audit for $26,135, but in order to complete it, the CPAs had to spend a lot of time doing extra accounting work that the previous town employees had failed to do, it was stated. For the extra hours, an additional $6,040 was billed. The accord is scheduled for implementation next year.

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