Discover how income tax works, the different types, and how they're calculated for individuals and businesses. Learn about federal, state, and local taxes.

There are two main types of business accounting methods: cash and accrual. In general, small-business owners have the option to choose which one to use. Both methods function to keep track of income ...

President Donald Trump has proposed the elimination of the federal income tax. But what would that mean for your take-home pay if you make $250,000.

The straight-line method is one of several methods of depreciation that a business uses to report the expense of certain assets that last longer than a year, such as equipment or buildings. A business ...

What’s not to love about earning money in your sleep? That’s the idea behind passive income, which is income you regularly earn without doing much additional work to maintain it. You put in a certain ...

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Khadija Khartit is a strategy, investment, ...