- What is income tax?
–it’s based on a company’s net income before tax
- What is self-employment tax
–it’s a social security tax paid by an owner of a business
- What is payroll tax?
–it’s based on the amount paid to employees in wages and salaries
- What is the difference between an employee and an independent contractor?
- What is sales tax?
–it’s a tax collected from customers and paid to the state and county government on the sale of goods (but not services)