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Monday Morning Accounting News Brief: EY Embarrasses Itself (Again); Archaic IRS Tech; Partners Battle It Out | 2.27.23

Going Concern

“IRS tech is so ‘archaic’ the agency struggles to find people to work it” from The Washington Post : The Internal Revenue Service, which funds nearly everything the federal government does, uses information technology that is creaking with old age.

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

xendoo

This deduction ensures that you aren’t double-taxed on the same money. Other tax credits may be available to small business owners to offset some or all of the cost of paying self-employment taxes. To avoid paying self-employment taxes, consult a tax professional to discuss incorporating your business.