How is tax determined for Sole Proprietors?

wxoklp · 03-07-09

I am a Sole Proprietor in business. Last month, before expenses, I grossed $10,000. After expenses, my net income is $8000. Am I taxed from the IRS on the $10k or on the $8k?

FletcherTax · 18-08-09

In Australia, you are taxed at resident (or non resident tax rates) on profits made only NOT on gross turnover received.

Fletcher Tax Accountants

jenifer1 · 09-12-11

How is tax determined for Sole Proprietors? The question is only resolve by a professional Bookkeeper.Now a days their are a lot of organization who provide "Online Bookkeeper". They are the best way to resolve problem regarding Business or Finance Services.