Business Taxes

Understanding and managing business taxes is an important part of operating a value-added business.  You need to know which taxes apply to your business.  You also need to understand taxes and how they affect the decisions made in your business.  Finally, you must properly file all tax forms and documents.

For more information on this topic, see the links listed below of articles posted on related Web sites.

Understanding Taxes
Federal Income
State Income
  • Your State Tax Obligation – CCH Business Owner’s Toolkit -- You'll find information on state taxes imposed on your business income, and the various sales and use tax issues specific to your state.
Payroll Tax
  • Your Payroll Tax Obligation - CCH Business Owner’s Toolkit -- Once you become an employer, you too will have to withhold taxes from your employees' pay and to deposit the withheld amounts with the appropriate tax agencies.
  • Social Security Taxes – -- Many employees are required to pay social security taxes. As a business owner and employer, you have an obligation to make sure these taxes are paid for your employees.
  • IRS Publication 583, Employment Taxes – Small Business Notes -- This section briefly discusses the employment taxes you must pay, the forms you must file to report them, and other forms that must be filed when you have employees.
Self-Employment Tax
  • IRS Publication 583, Self-employment Taxes – Small Business Notes -- Self-employment tax is a social security and Medicare tax primarily for individuals who work for themselves.
  • Marginal Tax Calculators – CCH Financial Planning Toolkit -- Use this calculator to determine your marginal and effective tax rates. This calculator sorts through the tax brackets and filing options to calculate your true tax liability.
  • Self-Employment Taxes – CCH Financial Planning Toolkit -- If you are self-employed, operate a farm or are a church employee use this calculator to determine your self-employment taxes.
Sales Tax
  • Your Sales Tax Obligation – CCH Business Owner’s Toolkit -- Unless you happen to live and do business exclusively in one of the five states that do not impose general sales taxes, you've probably had some exposure to state and local sales taxes.
  • IRS Publication 583, Excise Taxes – Small Business Notes -- This section describes the excise taxes you may have to pay and the forms you have to file if you do any of the following.
Property Tax
Filing Taxes

Links checked July 2014.