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Why Do LLC Pay Less Taxes?

Limited Liability Companies (LLCs) often enjoy certain tax advantages compared to other business structures, such as corporations. Why Do Some LLCs Pay Less in Taxes? Pass-Through Taxation - By default, LLCs are treated…
March 20, 2024

Do You Pay Taxes On Sales Or Profit?

Taxes are typically paid on profit rather than sales. Profit, in the context of business taxation, refers to the income remaining after deducting business expenses from total sales revenue. Breakdown on Understand…
March 19, 2024
Will The IRS Notice If I Don't Pay Taxes?

Will The IRS Notice If I Don’t Pay Taxes?

The IRS (Internal Revenue Service) has various mechanisms in place to detect and address instances of non-compliance with tax obligations, including failure to pay taxes. While it's not possible to predict with…
March 18, 2024
What States Have 0 Business Tax?

What States Have 0% Business Tax?

Several states in the United States do not levy a corporate income tax on businesses. However, it's essential to note that even in states with no corporate income tax, businesses may still…
March 17, 2024

How Much Taxes Owed On $200,000?

To determine the federal income tax owed on $200,000, we need to consider the tax brackets for the tax year. I'll base this on the 2022 tax brackets for a single filer...…
March 17, 2024
Does Zelle Report To IRS?

Does Zelle Report To IRS?

Zelle itself does not report transactions directly to the IRS (Internal Revenue Service). Zelle is a peer-to-peer payment service that facilitates the transfer of money between individuals, and it is not responsible…
October 9, 2023
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