• Business woman with calculator
    Business Basics

    Understanding the Legal Structure of Business

    The legal structure of your new business will determine the income tax form you will file. There are four basic taxes levied by the federal government: Income Tax, Self-Employment Tax, Taxes for Employers, and Excise Taxes. To learn more about small business taxes you can visit the IRS website. The information that follows in this section only serves as a brief introduction to help you begin the process and is in no way a substitute for professional advice. When you…