As a small or medium size business owner, you may assume the IRS isn’t concerned with your tax liability. However, this couldn’t be further from the truth. In fact, reports suggest that the IRS has increasingly targeted small businesses for audits in recent years. While the government may not be interested in your business before it turns [...]
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Income Tax Brackets and Rates Each year, income tax brackets and rates are adjusted for inflation. The reason for this is to avoid bracket creep. This is what would happen if people were pushed into a higher tax bracket simply because of inflation, and not an actual increase in real income. [...]