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Accounting At Your Fingertips, 2e by George Murray, CPA.

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12.4 Income Taxes

Income Tax Basics

Sole Proprietor Taxes

Partnership Taxes

Corporation Taxes

Excise Taxes

This subchapter provides an outline of filing requirements for income taxes for different types of business. Because how you file varies by entity, we touch on sole proprietorships, partnerships, and corporations in the following sections.

Income Tax Basics

With the tax code as complex and constantly changing as it is, we can’t possibly do more than scratch the surface in talking about taxes in one short chapter. We will, however, lay out some of the basics, so that even if you’re turning everything over to an accountant, you’ll have a general understanding of the subject.

The type of tax return you file depends on your company’s business ...

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