Small businesses calculate their business profit or loss for income taxes, then include this information on their personal tax returns. This guide will help you determine which forms to use and how to compile information for these forms.

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About Us. The Tax Foundation is the nation’s leading independent tax policy nonprofit. Since 1937, our principled research, insightful analysis, and engaged experts have informed smarter tax policy at the federal, state, and global levels.

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Small Business. Whether you’ve just started a business or have decades of experience, business taxes can still be challenging. If you’re confused over a filing question or just need some quick tips, H&R Block is here to help.

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This list of small business accounting steps will give you the confidence to know you’ve covered your bases, and are ready to move on to the next item on your business to-do list. Bookkeeping 101 Bookkeeping is something that you either have to learn or outsource when you’re running a business.

As a small business owner, you are required to assess sales tax, collect it and pass it on to the appropriate authorities within the prescribed time. Sales tax rates and laws vary from state to state – which often leads to confusion, especially if you sell to customers in more than one state (more on this below).