Corporate tax Essay Examples

corporate tax return. Conversely, Donna boutique will have to fulfill self-employment taxes on income that the business brings in. The boutique will also not be able to deduct fringe reimbursements such as the cost of availing life and death insurance benefits to workers. Since sole proprietors have no employer that will be withholding income taxes from their pay check, it will be the task of the boutique’s owner to set aside enough funds for paying taxes on any business income they make during the year. This will be done by estimating the tax amount their boutique business will owe yearly and making quarterly estimated income tax submissions to the IRS. Also, the boutique owner will be required to...