Recent IRS data gives us insights into new capital expenditures made by both individuals and corporations in 2016. In total, the IRS estimates that individuals reported $347.1 billion in capital expenditures and corporations reported nearly $1 trillion of assets placed into service. An important takeaway from this data is that it sheds light on what […]
Pass-through businesses, such as sole proprietorships, S corporations, and partnerships, make up a majority of businesses in the United States. The owners of these firms pay individual income tax on income derived from these businesses. The marginal tax rates vary for pass-through firms depending on the state where they operate, as states tax individual income […]