“Would this laptop work equally well for business purposes? Such as running tax programs and micro soft office applications?”
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That really depends on the requirements and compatibility of the specific software you want run. There is a 30-day trial of Microsoft Office 365 included as part of the Windows 10 operating system. In order to keep the program active after the trial period, you will need to purchase a product key. You will not need to download any additional software. Regarding other specific software, we recommend you check with the specific software publisher's web sites for their compatibility with Windows 10 Home 64-bit operating system and the minimum/recommended hardware requirements (Is a Graphics card required, the processor speed and the minimum required system RAM and the minimum available hard drive space) to run their program, then compare those requirements to this system's configuration.
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