Tax cuts for business are stupid

Discussion in 'Current Events' started by RealDave, Nov 10, 2017.

  1. WinterBorn
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    WinterBorn Gold Member

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    If you own a business, the best thing to do is pay yourself a salary. That is not part of the profit that can be taxed. Otherwise the business will be taxed on the profit, if you take it out, and then you will get taxed on your income.

    And the financial worth of a business is based on the profits, the assets, and the projected profits. If you have a business with $100,000 worth of equipment, that adds to the worth of the business.
     
  2. OnePercenter
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    OnePercenter Gold Member

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    On $100M in revenue, or 3.5%

    In relation, YOU pay 30% of total income.
     
  3. Harry Dresden
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    Harry Dresden Adamantium Member Supporting Member

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    i wasnt the one saying he was clueless was i?....that was you,so like i said,i dont see you showing us how knowledgeable you are on the subject.......
     
  4. OnePercenter
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    OnePercenter Gold Member

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    Depending on the business, the best thing you can do is have the business pay some or all of your expenses.

    Owning equipment is the absolutely the WORST thing you can do. You lease, ideally from yourself. Leasing sets your expense for years. If it breaks, they fix it. When it's time to replace, they replace it.
     
  5. baileyn45
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    baileyn45 Platinum Member

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    The argument for lower corp tax rates is best couched in competitiveness. It's hard to argue that a 38% rate is more attractive than a 25% rate, as is seen in Europe. Many will point out that the nominal rate paid by US companies is 28%, after a myriad of deductions and loopholes. The problem is that those deductions and loopholes are used primarily by the biggest entities. As usual it's the small and midsize concerns that bare the brunt.
     
  6. Kosh
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    Kosh Gold Member Supporting Member

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    And once again maybe you should follow your own advice. But why do that when you can just carry on with your personal grudge!

    I love living rent free, but it seems that you would allow more time to get the place furnished. Well that may be impossible as there is a lot of space here and it may take 60+ years to furnish this place!

    All I did was show that the OP is a far left drone and I was correct!

    But thanks for pointing that the OP is also clueless, just like you!
     
  7. Toddsterpatriot
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    Toddsterpatriot Platinum Member

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    If you own a business, the best thing to do is pay yourself a salary.

    So I shouldn't invest in expansion?

    And the financial worth of a business is based on the profits, the assets, and the projected profits.


    It's true, higher taxes will reduce current and projected profits.

    If you have a business with $100,000 worth of equipment, that adds to the worth of the business.

    If buying it shielded me from taxes, selling it would make me liable again.
     
  8. Toddsterpatriot
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    Toddsterpatriot Platinum Member

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    In relation, YOU pay 30% of total income.

    And corporations pay 35%.
     
  9. Kosh
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    Kosh Gold Member Supporting Member

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    Spoken like someone that has never really been in business..

    If you lease and it breaks, you still pay to fix it. Just like leasing a car, but you have never done that either!

    So any real world examples will be difficult for you to understand!
     
  10. Grampa Murked U
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    Grampa Murked U Diamond Member

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    Derp...



    That's all you deserve
     

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