CHAPTER 29

Other Taxes

Alert
At the time this book was printed, Congress had not extended numerous breaks for 2012 that had expired at the end of 2011. Check the online supplement in February 2013 at www.jklasser.com or www.barbaraweltman.com to see whether these breaks apply for 2012 returns.

Federal income taxes may be your primary concern and your greatest tax liability, but as a business owner you may have other tax obligations as well. You may owe state income and franchise taxes, employment taxes, sales and use taxes, and excise taxes.

In this chapter you will learn about:

  • State income taxes
  • Employment taxes
  • Estimated taxes
  • Sales and use taxes
  • Excise taxes

For more information about various other taxes, see IRS Publication 15, Circular E, Employer’s Tax Guide; IRS Publication 15-A, Employer’s Supplemental Tax Guide; IRS Publication 15-B, Employer’s Guide to Fringe Benefits; and IRS Publication 510, Excise Taxes.

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