Tax
How taxes work — from your paycheck to the books
Walk from why taxes exist, through withholding and self-employment filings, to the bridges with GAAP accounting — book vs. tax income, MACRS, and deferred taxes. Start with Tax Fundamentals and work down. Educational content only — not tax advice.
Tax Fundamentals
Why taxes exist and how the system is structured
How Taxes Work
Why governments tax and how the system is organized
Progressive, Regressive & Proportional
Three rate structures and what each means for taxpayers
Federal, State & Local Taxes
Layers of tax jurisdiction and what each typically covers
Income & Withholding
The mechanics of earning income and paying tax on it
Gross Income vs Taxable Income
From total earnings to the amount that is actually taxed
Payroll Taxes & Withholding
FICA, income tax withheld, and how your paycheck is built
Filing Status & Deductions
How filing status and deductions shape your tax bill
Tax Credits vs Deductions
Dollar-for-dollar credits vs. taxable-income reductions
Self-Employment & Business Taxes
For small business owners and the self-employed
Employee vs Independent Contractor
Classification rules and why they matter for tax and benefits
Self-Employment Tax
Social Security and Medicare when you work for yourself
Schedule C
Reporting sole-proprietor business profit or loss
Estimated Quarterly Taxes
Pay-as-you-go when no employer withholds for you
Business Deductions
Ordinary and necessary expenses that reduce taxable profit
Tax & Accounting Connections
Bridges to financial and managerial accounting
Book Income vs Taxable Income
Why GAAP profit and taxable income diverge
Depreciation: Tax vs GAAP
Book depreciation methods vs. MACRS and tax rules
Deferred Tax Assets & Liabilities
Future tax effects of temporary book-tax differences
Practice Tax Concepts
Reinforce income statements, payroll liabilities, and depreciation in the Practice Lab — then come back to apply the same numbers through a tax lens.
Try It in the Learning Lab→