Taxation of Individuals and Businesses: Principles, Computation, and Strategic Considerations
Taxation is a dynamic force in both personal finance and corporate strategy, balancing revenue generation for governments with incentives and obligations for taxpayers. Individuals navigate progressive tax brackets, deductions, and credits to calculate liability, while businesses manage taxable income through structures like sole proprietorships, partnerships, and corporations—each with distinct tax treatments. Strategic planning, from depreciation schedules to R&D credits, can significantly impact cash flow and profitability. Globally, trends like the OECD’s minimum tax and digital services levies reflect shifting priorities in a digital economy.… Read more