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Copy Amazon’s $0 Tax Strategy! How to Write Off Taxes (Easy Guide)

LyfeAccounting

Amazon paid $0 in Federal taxes in 2017 and 2018 but Amazon does pay plenty of payroll taxes, state taxes, and international taxes. In 2019, Amazon broke its streak of paying $0 Federal taxes and actually owed money to the federal government. Myth #2: Small businesses can’t write off taxes like Amazon does.

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Small Business Tax Filings – Everything You Need to Know to Avoid IRS Penalties!

LyfeAccounting

Similar to employees, payroll taxes such as Medicare and social security should be withheld and paid on every paycheck. So essentially, you would be paying self-employment taxes with every paycheck but only on the salary you would be paying yourself. Currently, the corporate tax rate is 21%. Let me explain.