Where can i find the tax brackets for small businesses?
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M$3 Answers
It is probably a good idea to only use the information on these sites strictly for guidance, you have no way of knowing how accurate the information is. Small businesses have a difficult enough time staying afloat these days without tax problems, so I would recommend to ONLY listen to what the IRS has to say, all other forums and blogs are NOT updated regularly.
http://www.business.com/directory/accounting/tax/reference/rates_and_tables/
http://www.smbiz.com/
http://www.irs.gov/businesses/small/article/0,,id=98846,00.html
http://en.wikipedia.org/wiki/Capital_gains_tax_in_the_United_States
http://turbotax.intuit.com/tax-tools/tax-tips/IRS-Tax-Return/Summary-of-Federal-Tax-Law-Changes-for-2010-2017/INF12041.html
http://ezinearticles.com/?The-IRS-Tax-Rates---2011-Federal-Income-Tax-Brackets&id=5729694
http://georgewbush-whitehouse.archives.gov/news/reports/images/taxplan-chart1.gif
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M$CNN Money reported that a National Federation of Independent Business found only 14% of respondents said they had $200,000 or more annual income. But it does not mean that just because you earn more you are going to pay more overall, this is because of marginal tax rates.
Tax code states that only the income that falls in the higher bracket is taxed at a higher rate. For example, a small businessman is very industrious was lucky enough to make over $250,000, under Obama's prospective tax hikes, all the money he earned from $1 to $250,00 would be taxed at the same rate as for those who make $249,000. It is only the money a businessman make beyond the threshold of the tax bracket that is taxed at a higher rate.
Source:
http://www.businesspundit.com/small-business-and-marginal-tax-rates/
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M$Below is a great site I found by doing a simple Google Search. This site will explain to you in more detail about your specific tax situation and your tax bracket you may be in.
http://www.smbiz.com/sbrl001.html#ci
You can also visit this site as well for more resources:
http://www.urban.org/uploadedPDF/1000651_taxfacts042604.pdf
Since I don’t know what state you reside in, I can only offer this advice for your state taxes. You can look on your states government website for tax information. There you should be able to find the information you need for your taxes.
The best advice I can give you as a small business owner myself, is to use a tax attorney to help you with your taxes. It has saved me many times from deductions, and credits I had no idea I could take. Your tax attorney will also help to defend you against the state or IRS should they find a problem with your return. Using a professional, in my opinion is the best bet you can make.
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M$