Reviewed by Charlene Rhinehart Fact checked by Vikki Velasquez Businesses depreciate long-term assets for both tax and accounting purposes. For tax purposes, businesses can deduct the cost of the ...

To calculate your effective tax rate, you need two numbers: the total amount you paid in taxes and your taxable income for ...

The tax rate you pay on the highest portion of your taxable income is known as your marginal tax rate. Here’s how to determine it.