taxes
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Title: taxes

Essay Details:

Subject: Business
Author: Joseph R
Date: January 7, 2016
Level: University
Grade: A
Length: 3 / 720

Essay text:

A dependent child can earn up to $4000 before paying income tax, but, if the child is over 18, you may have to cover payroll tax and workers' compensation. Poor record keeping often causes businesses to fail. The tax code requires that you keep "records appropriate to your trade or business." While the code does not specify a particular format, the records must be accurate. Proper records allow you to prepare tax returns more quickly, and may alert you to problems earlier. The balance in your checkbook plus the money you draw out of the business rarely is your taxable income. Equipment purchases may qualify for an immediate deduction instead of being depreciated...

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