Pass-Through Entity: Taxes and Business Types Explained
Fundera
JULY 4, 2019
The income, losses, credits, and deductions of the business flow through to each owner’s personal tax return, and the profits are taxed at each owner’s personal income tax rate. business income in 2011, up from 21% in 1980. The business owner can deduct $20,000 from their taxable income, only paying taxes on the remaining $80,000.
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