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

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How Are Small Businesses Taxed? Depending on your business structure and income, you may be subject to one or more types of taxes. The term refers to when the IRS taxes the same income twice—once at the corporation level and again on an individual shareholder’s personal income tax.

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Tax Benefits & Differences: Sole Proprietor vs. LLC vs. S-Corp vs. C-Corp | Which Business Entity is Best?

LyfeAccounting

Now the major taxes they are subject to are: Federal income tax. State income tax. Self-employment tax. This reasonable salary must be paid like you would pay a W-2 employee, which also means that you are still paying Medicare and social security taxes to some extent. car expenses. office expenses.

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