Here is an overview of the many federal, state, and local taxes that small businesses can face, along with the major tax deductions and credits that they may be entitled to.

Lots of wage earners only file tax returns once a year. But small business owners, including the self-employed, have additional taxes to worry about–and possibly year round. While many wage earners ...

Compare what you paid in sales tax to your state and local taxes. Deduct the larger of the two. But there's a catch. Many, or all, of the products featured on this page are from our advertising ...

The federal deduction for state and local taxes for single and joint-filing taxpayers who itemize is $40,000 through 2029.