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For example, common states where people move to reduce state taxes are Florida, Texas, Wyoming, and Nevada. Consider increasing the amount you set aside for next year in your employer’s health flexible spending account (FSA). Contact a member of Withum’s Tax Services Team to start planning as year-end approaches.
From tax law revisions to the overwhelming number of forms, understanding your small business tax rate and how to file can be difficult. Your business entity type and preferred filing status will also affect your tax rate. For example, LLCs that opt for the IRS to tax them as corporations are subject to corporatetax rates.
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