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1 year, 4 months ago via ask.inc.com

Where can i find the tax brackets for small businesses?

Does the IRS publish tax brackets for small business? Are there any websites, forums or blogs besides the IRS that post tax bracket information for small businesses?
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enigmatic1500 | 1 year, 3 months ago
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I have done some research to find some websites, forums and blogs for you which have information on small business tax brackets. There are a great many of them and you could spend a lot of time reading what they have to say. To this effect I have placed some links to the sites which I looked at below, for your perusal.

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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Lianne J | 4 months, 3 weeks ago
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I found a very informative article related to tax brackets for small businesses. According to Small Business Association, a small business is one that is owned and operated independently and which is not dominant in its field of operation. It has less than 500 employees.
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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rougemama | 1 year, 3 months ago
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There are several websites besides the Internal Revenue Service (IRS) that offers information on tax brackets, schedules and situations you may be in. Finding what tax bracket you are in will depend on the business you are in and how much income is made from your business. It also depends on if you are a corporation, LLC or a Personal Holding Corporation.

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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