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INDIVIDUAL AND BUSINESS TAX RETURN CITY OF LORAIN 605 WEST 4TH ST, LORAIN, OH 440521605 THIS RETURN IS DUE BY THE IRS DUE DATE. FISCAL YEAR FILERS MUST FILE ON OR BEFORE THE 15TH DAY OF THE FOURTH
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Research and gather all necessary tax forms and documents.
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Identify if you are filing as an individual or a business.
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If filing as an individual, gather personal information such as Social Security number, income statements, and deductions.
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If filing as a business, gather business-related documents such as financial statements, expense records, and receipts.
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Who needs individual and business tax?

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Individuals who earn income from various sources such as employment, investments, or rentals may need to file individual taxes.
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Sole proprietors, partnerships, corporations, and other entities engaged in business activities are required to file business taxes.
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Individuals or businesses earning above a certain income threshold determined by the tax laws of their country or jurisdiction may also need to file taxes.
04
Those who want to take advantage of tax deductions, credits, or benefits available to individuals or businesses should also consider filing tax returns.
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Individual tax is a tax levied on the income and financial activities of an individual person, while business tax is a tax levied on the income and financial activities of a business entity.
Individuals who have income above a certain threshold and businesses that generate taxable income are required to file individual and business tax.
Individuals and businesses can fill out their tax forms either manually or electronically, providing accurate financial information and supporting documentation.
The purpose of individual and business tax is to generate revenue for the government to fund public services and programs.
Income, deductions, credits, and other financial information must be reported on individual and business tax forms.
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