Taxes help fund public services like schools, roads, and emergency services. By paying taxes, everyone chips in to support the government and the community.

Most U.S. citizens and residents who earn income need to file a tax return. The income threshold varies depending on factors like age, filing status, and the type of income you earn.

Typically, the deadline is April 15th each year. However, if April 15th falls on a weekend or holiday, the IRS may extend the deadline by a day or two.

ITIN stands for Individual Taxpayer Identification Number. It's a tax-processing number issued by the IRS for people who aren’t eligible for a Social Security number but still need to file taxes in the U.S.

Anyone who is required to file a federal tax return in the U.S. but does not qualify for a Social Security number will need an ITIN. This often includes nonresidents, foreign nationals, and dependents of U.S. residents.

You typically apply by submitting Form W-7 (Application for IRS Individual Taxpayer Identification Number) along with proof of identity and foreign status documents. You can mail these to the IRS or apply through an IRS-authorized Certifying Acceptance Agent.

ITINs expire if they haven’t been used on a tax return for three years or if they were issued before 2013 with certain middle digits (like 70–88) that have rolled out of validity. You should renew it before filing your tax return if it’s expired or about to expire.

Most employees use Form 1040, which is the standard individual tax return. If you’re employed, you’ll also receive a Form W-2 from your employer. Freelancers or independent contractors often receive a Form 1099 instead.

A deduction lowers the amount of your income that’s taxed, while a credit directly reduces the amount of tax you owe. Credits usually provide bigger savings than deductions of the same amount.

You can either take the standard deduction (a flat amount set by the IRS) or itemize your deductions if your eligible expenses add up to more than the standard deduction. Most people choose whichever method lowers their tax bill the most.

Tax brackets are based on your taxable income and filing status (like single, married filing jointly, etc.). Your income will determine which bracket you fall into, and you can check the current year’s tax tables on the IRS website.

You should still file on time to avoid penalties. You can request a payment plan from the IRS to pay your tax debt over time. It’s usually better to set up a plan than ignore the debt.

Be honest and accurate. Report all your income, double-check deductions, and keep good records. While there’s no way to guarantee zero audits, being consistent and correct on your return helps reduce red flags.

You can use the IRS’s “Where’s My Refund?” online tool or the official IRS2Go mobile app. Just enter some details from your tax return, and it will show you the status of your refund.

Yes, foreign nationals can form businesses in the U.S. There are no citizenship requirements, but there might be additional steps like obtaining an EIN (Employer Identification Number) and meeting state-specific regulations.

You typically choose a state to register in, file formation documents (like Articles of Incorporation or Organization), and apply for an EIN. Requirements can vary by state, so it’s important to check state rules and, if needed, consult with a professional.

Most states require a registered agent with a valid U.S. address. This address can be provided by a registered agent service, so you don’t necessarily need to maintain a physical office yourself.

They generally must follow the same federal and state tax rules as domestic companies. This can include corporate income taxes, employment taxes, and sales taxes, depending on the business structure and where the company operates.

Foreign nationals can apply for an EIN using IRS Form SS-4 and indicate they don’t have an SSN. They can fax or mail the form to the IRS, or sometimes apply by phone (for international applicants).

Common structures include sole proprietorships, partnerships, limited liability companies (LLCs), S corporations, and C corporations. Each has different tax rules and implications.

A C corporation pays corporate income tax on profits, and shareholders may also pay taxes on dividends (double taxation). An S corporation’s income “passes through” to the shareholders’ personal tax returns, so there’s usually no separate corporate tax.

Many businesses need to pay quarterly estimated taxes on income that isn’t subject to withholding. You estimate how much tax you’ll owe for the year and make four payments, typically in April, June, September, and January.

Yes. If you’re a sole proprietor or part of a partnership, you generally pay self-employment tax, which covers Social Security and Medicare taxes, on top of regular income tax.

Employers withhold Social Security, Medicare, and income taxes from employees’ paychecks. The employer must then pay these taxes to the IRS, along with the employer’s share of Social Security and Medicare taxes.

An LLC offers liability protection for owners while allowing flexible taxation. By default, an LLC’s income passes through to the owners’ personal tax returns, but an LLC can also elect to be taxed as a corporation in some cases.

You typically file the appropriate formation documents (e.g., Articles of Organization for LLCs or Articles of Incorporation for corporations) with the Florida Division of Corporations. You can do this online or by mail.

Yes. Most businesses in Florida must file an annual report with the Florida Department of State to keep their status active. This report is usually due by May 1st each year.

Yes. Florida imposes a corporate income tax on C corporations, although it does not have a personal state income tax for individuals. The rate can change, so check the Florida Department of Revenue’s website for current rates.

It depends on your business type. Many businesses require a general business license, also known as a local business tax receipt, plus any specialized permits for certain industries. Check both state and local (county/city) requirements.

Florida has a statewide sales tax, and some counties add a discretionary sales surtax. If you sell taxable goods or services, you’ll need to register with the Florida Department of Revenue to collect and remit these taxes.