Business Taxes vs. Personal Taxes | Tax Expert Explains the Difference!

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Many people who are just getting started in business do not fully understand the difference between business taxes and personal taxes. However, in order to remain in complete compliance with tax law, it is critical for business owners to understand the differences between the two types of taxes and how they are levied.

In this video, tax expert Karlton Dennis breaks down business taxes vs. personal taxes. He goes over all of the basics for each type of tax, and provides additional information to help the viewer understand them. Income taxes, capital gains taxes, payroll taxes, and many others are discussed in this video.

Additionally, Karlton also explains how personal and business taxes are affected by state and federal tax rules. Finally, Karlton also details some steps that people can take to reduce their tax burden. This video can potentially benefit anyone who wants to advance their understanding of the differences between business and personal taxes.

CHAPTERS:
0:00 Intro
0:28 What Are Business and Personal Taxes?
0:54 What Types of Taxes Do Businesses Owe?
2:28 What Types of Taxes Do Individuals Owe?
4:38 What are Pass-Through Entities?
6:22 State Taxes vs Federal Taxes
7:51 How to Reduce Your Tax Burden
8:47 Subscriber Question!
10:12 Outro

*Disclaimer: I am not a financial advisor nor am I an attorney. This information is for entertainment purposes only. It is highly recommended that you speak with a tax professional or tax attorney before performing any of the strategies mentioned in this video. Thank you.

#karltondennis #businesstax #taxplanning