How Should Business Profit Be Taxed? Some Thoughts on Conceptual Developments During the Lifetime of the IFSprofit taxationtax incidencedestination‐based taxcash flow taxF23H21H25H32This paper reviews developments since the 1970s in economic thinking about the design of taxes on business profit. It...
We review the theoretical justification for consumption taxes in advanced economies, providing a systematic review of the extensive public finance literature that examines how goods and services should be taxed. Our discussion focuses on both the determinants of the optimal level of consumption taxation ...
Your small business taxes are based on the type and structure of your business. If you recently started a small business, you might be wondering which forms you need to file and what your tax obligations are as a business owner. Check out this small busi
If you’re still pondering, “What should my business be?” here are some questions to help guide you: What activities or hobbies genuinely inspire and excite you? Which tasks would you rather delegate because they drain you? Can you envision a solution or product to make these less-liked ...
Should You Hire a Tax Professional? Tax professionals can be a big help for those with more complicated situations – but they can be expensive. Emily ShermanFeb. 19, 2025 Best Ways to Spend Your Tax Refund Experts recommend leveraging that extra money to bulk up your emergency savings or pa...
How do I fit saving into my budget? Make savings a monthly expense. Now that you know what you spend in a month, you can begin to create a budget. Your budget should show what your expenses are relative to your income, so that you can plan your spending and limit overspending. Be ...
However, if you come up with something truly unique, consider patenting an idea to protect your business. As you narrow down your business concept, here are some qualities to prioritize: Simple and clear –A good business concept should be easy to understand and explain to others. Unique –A...
, but you may be able todeduct these other taxeson Schedule A of your income tax return even if you also claim the foreign tax credit. You can deduct foreign real property taxes unrelated to your trade or business. However, other taxes must be expenses you incur in a trade or business....
Businesses often add the cost of an excise tax directly onto the price of the taxed good, so the tax is passed onto the customer. Customers may or may not know they are paying the cost of the excise tax on top of the price of the good or service. Some companies are transparent about...
Capital gains tax rates apply only if you own the asset in question for more than one year before you sell it. You must pay tax at your ordinary income tax rate if you own the asset for one year or less. The difference can be that one single day that exceeds a year.2 ...