 Most of this information comes from the tax guide for small business for individuals who use Schedule C, Publication 334, Taxure 2022, you can find on the IRS website, irs.gov, irs.gov. Looking at the income tax formula, we're focused online. One income, remember in the first half of the income tax formula, is in essence an income statement, although it's just the outline, the scaffolding, other forms and schedules flowing into it, including the Schedule C for the business income, which in essence is its own income statement, having income minus expenses or business deductions. The net income then flowing into line one here of our income tax formula. Looking at page one of the form 1040, we're looking at line eight. Schedule C would flow into schedule one, flowing into page one of the form 1040 here on line eight. This is a Schedule C profit or loss from business, which is in essence an income statement, income minus expenses on down below. We'll now dive into the excise tax. First question, what is an excise tax? An excise tax is a legislative tax on specific goods or services at the time they are purchased. So they're actually going to be picking specific goods and services and assigning a tax to them specifically based on or applied when those goods and services are purchased. Now, because they're going to be specific in nature, they will be specific to a particular industry, so we won't spend a lot of time on them. Spending a lot of time together lately. In general, because it will be dependent upon a particular industry. So goods subject to excise taxes could be fuel, tobacco and alcohol amongst other things. You might ask the question, of course, why would they put a tax on a particular item? And one reason could be, for example, with fuel, you might think that you want to apply the tax to the people that might be using a related public good, for example, like the freeway system. And you would imagine that the more people buy fuel, then the more they're likely using the public good that was built with tax dollars, and therefore it would make sense that you tie those two things together somehow. So you tax fuel, people that buy more fuel are paying more for the public good that has been provided by taxpayer dollars, people that don't buy as much fuel or shouldn't be paying as much in possibly for that public good would be the rationale. Other things like tobacco and alcohol are usually kind of like a moral argument. The idea being that we're going to disincentivize the purchase of tobacco and alcohol by raising the price on them artificially by creating a tax. So the argument would be we're not trying to get revenue from it at all, even though it generates a lot of revenue. We're just trying to get people not to purchase tobacco and alcohol because of supply and demand. And as the price goes up, you would think that demand would go down. Other skeptics would argue and I'm kind of skeptical of this would argue that, you know, if someone is addicted to something in particular, it's going to be an inelastic good. So you can raise the price on it and people will still be buying the inelastic good just because the nature of the situation. So and it also seems like it might be a regressive tax because the people that tend to buy more tobacco and alcohol seem to be on the lower income side of things. So you're actually increasing taxes on, you know, lower income individuals. So it's a kind of double-edged kind of moral argument that comes into play with those. But that is what it is.