{"id":54,"date":"2008-10-23T22:08:08","date_gmt":"2008-10-23T22:08:08","guid":{"rendered":"http:\/\/sherylschuff.com\/blog\/?p=54"},"modified":"2016-02-21T12:47:33","modified_gmt":"2016-02-21T17:47:33","slug":"small-business-taxes","status":"publish","type":"post","link":"https:\/\/sherylschuff.com\/blog\/taxes\/small-business-taxes\/","title":{"rendered":"Ouch! There&#8217;s a Lot More Than Income Taxes"},"content":{"rendered":"<p>When most small business owners think about taxes, they think about Federal income taxes. But there are several other taxes that you need to know about.<\/p>\n<p><strong>Self-employment tax<\/strong>: This is a tax that sole proprietors pay, based on their net taxable profits.<\/p>\n<p><strong>Sales tax<\/strong>: If your state charges sales tax on products sold to customers, you&#8217;ll have to collect it and pay it. In some cases, digital downloads are considered products as far as the sales tax rules are concerned and certain services might also be subject to sales tax.<\/p>\n<p><strong>Local taxes<\/strong>: Some cities and school districts have local taxes that you might have to pay. Some of these depend on your type of business. There might be additional sales taxes, property taxes, innkeeper&#8217;s taxes, or food and beverage taxes.<\/p>\n<p><strong>Estimated taxes<\/strong>: These are payments made during the year to cover the taxes on income you receive from anything other than payroll.<\/p>\n<p><strong>Payroll taxes<\/strong>: If you have employees, you&#8217;ll need to pay various Federal, State, and local payroll taxes.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>When most small business owners think about taxes, they think about Federal income taxes. But there are several other taxes that you need to know about.<\/p>\n<p>Self-employment tax: This is a tax that sole proprietors pay, based on their net taxable profits.<\/p>\n<p>Sales tax: If your state charges sales tax on products sold to customers, [&#8230;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","tve_updated_post":"","tve_custom_css":"","tve_user_custom_css":"","tve_globals":{},"tcb2_ready":0,"tcb_editor_enabled":0,"tve_landing_page":"","_tve_header":"","_tve_footer":""},"categories":[40,34],"tags":[73,76,75,77,72],"class_list":["post-54","post","type-post","status-publish","format-standard","hentry","category-business-start-up","category-taxes","tag-business-taxes","tag-estimated-tax","tag-sales-tax","tag-self-employment-tax","tag-solopreneurs","odd"],"_links":{"self":[{"href":"https:\/\/sherylschuff.com\/blog\/wp-json\/wp\/v2\/posts\/54","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sherylschuff.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sherylschuff.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sherylschuff.com\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/sherylschuff.com\/blog\/wp-json\/wp\/v2\/comments?post=54"}],"version-history":[{"count":2,"href":"https:\/\/sherylschuff.com\/blog\/wp-json\/wp\/v2\/posts\/54\/revisions"}],"predecessor-version":[{"id":2332,"href":"https:\/\/sherylschuff.com\/blog\/wp-json\/wp\/v2\/posts\/54\/revisions\/2332"}],"wp:attachment":[{"href":"https:\/\/sherylschuff.com\/blog\/wp-json\/wp\/v2\/media?parent=54"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sherylschuff.com\/blog\/wp-json\/wp\/v2\/categories?post=54"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sherylschuff.com\/blog\/wp-json\/wp\/v2\/tags?post=54"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}