Ultimate Guide to Taxes for Small Businesses

In this world nothing can be said to be certain, except death and taxes.

Benjamin Franklin

If you’re operating your business as a sole proprietorship, you’re not alone - 80% of small businesses in the United States are sole proprietorships. Sole proprietors report their income and expenses as part of their individual income tax return, therefore a sole proprietor’s taxes are included in the “Income tax” portion of the federal tax pie. In this Learning Topic, we will focus on sole proprietors.