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Barbara Weltman

Big Ideas for Small Business, Inc.

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Misconceptions about tax returns

October 28, 2013 / By Hudson Fusion

The Tax Foundation’s Putting a Face on America’s Tax Returns: A Chart Book, 2nd Edition examines the data behind the tax returns of the rich, the poor, and the middle class, and reveals startling trends about what Americans pay in taxes each year. The information provided in the book is a comprehensive guide to understanding the long-term effects of today’s tax reform efforts. One interesting fact: there are 1.7 million traditional C corporations, compared to 7.4 million partnerships and S corporations (the profits of which are taxed on owners’ personal tax returns), and 23 million sole proprietorships (who also pay tax on their profits on their personal returns). The download is free; the print copy is $10.

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Small business ideas, business tax news and small business consulting from Barbara Weltman to provide business owners with the information they need to succeed. Visit our small business blog, Idea of The Day®, small business books and articles on small business taxes, small business finance and small business legal advice.

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