Ravi
Diamond Member
Maybe you should start over. Small businesses don't pay income tax.I understand it quite well. I have an S corp. The corporation pays no taxes as we always zero out the expenses at the end of the year. There is nothing complicated about this and really is not the point.
The point is this:
Approximately one million small businesses and/or people making over 200K (or 250K as a family) will have a tax increase.
So who would you rather have spending that money? The individual or the government?
Start a new thread about how the top 2% of income earners might end up paying a higher income tax rate.