Biden's proposed taxes will crush small business owners

[miketx]

 

[Nostra]

So Senile Joe in his desire to tax "rich" people has proposed a capital gains tax change that will crush small business owners.

Here's how the little guy gets crushed again.

Doddering Joe wants to change the capital gains tax so that anyone with 1 million in income is no longer eligible for the 20% tax rate that has been the standard for years. So that means any small business owner who sells his business when he retires and if that one time sale puts his income over 1 million dollars he must pay 39.6% on that one time sale which was most likely his retirement nest egg.

Do you people really think that a guy who built an ran a business and probably make less than 100K a year and who sells his business so he can retire should lose 40% of his nest egg to the fucking government

Few businesses are sold for cash. Most are sold via other methods, such as multi-year buyouts/installment sales, stock sales, sinking funds, ESOPs.

And proper planning can mitigate a good portion of taxes to which the owner is exposed.

Small business shouldn't have to resort to extraordinary measures to manipulate and negotiate their livelihood over excessive taxes.

Isn't that kind of success the American Dream?

Start a business work hard obey the law and then you get to reap the fruits of your labor.

The guy who comes from an average background who does this is not some evil rich guy. He's the guy who lives in your neighborhood not some mansion on the ocean.

As always the attempts to soak the rich end up bleeding the middle class dry.

I've started three companies and sold them. I hired a good accountant to wade through the 3000 page tax law. It's completely antiquated and unnecessary to work within such a system. Taxes should lowered for everyone. The government needs to do without.

If you can watch these and still oppose the FAIRtax you don't have a functioning brain. You operate strictly on envy.

 

[Blues Man]

So Senile Joe in his desire to tax "rich" people has proposed a capital gains tax change that will crush small business owners.

Here's how the little guy gets crushed again.

Doddering Joe wants to change the capital gains tax so that anyone with 1 million in income is no longer eligible for the 20% tax rate that has been the standard for years. So that means any small business owner who sells his business when he retires and if that one time sale puts his income over 1 million dollars he must pay 39.6% on that one time sale which was most likely his retirement nest egg.

Do you people really think that a guy who built an ran a business and probably make less than 100K a year and who sells his business so he can retire should lose 40% of his nest egg to the fucking government

Few businesses are sold for cash. Most are sold via other methods, such as multi-year buyouts/installment sales, stock sales, sinking funds, ESOPs.

And proper planning can mitigate a good portion of taxes to which the owner is exposed.

Small business shouldn't have to resort to extraordinary measures to manipulate and negotiate their livelihood over excessive taxes.

Isn't that kind of success the American Dream?

Start a business work hard obey the law and then you get to reap the fruits of your labor.

The guy who comes from an average background who does this is not some evil rich guy. He's the guy who lives in your neighborhood not some mansion on the ocean.

As always the attempts to soak the rich end up bleeding the middle class dry.

I've started three companies and sold them. I hired a good accountant to wade through the 3000 page tax law. It's completely antiquated and unnecessary to work within such a system. Taxes should lowered for everyone. The government needs to do without.

If you can watch these and still oppose the FAIRtax you don't have a functioning brain. You operate strictly on envy.

My only issue with that is the "prebate"

There is no need to add that level of bureaucracy and expense to any revenue collection system.

What sense does it make to charge a 15% sales tax on everything then incur the cost of sending every single person a check every month?

Just lower the overall tax rate and skip the "prebate"

 

[Richard-H]

So Senile Joe in his desire to tax "rich" people has proposed a capital gains tax change that will crush small business owners.

Here's how the little guy gets crushed again.

Doddering Joe wants to change the capital gains tax so that anyone with 1 million in income is no longer eligible for the 20% tax rate that has been the standard for years. So that means any small business owner who sells his business when he retires and if that one time sale puts his income over 1 million dollars he must pay 39.6% on that one time sale which was most likely his retirement nest egg.

Do you people really think that a guy who built an ran a business and probably make less than 100K a year and who sells his business so he can retire should lose 40% of his nest egg to the fucking government

The way tax brackets work is that they will pay 20% on the first million, and 39.5% any amount above that.

That's not what Joe's proposal was.

He said for households earning over 1 million the capital gains rate will be 39.6%

Capital gains taxes are not subject to tax brackets but are a flat tax

I stand corrected..

Still my heart doesn't bleed for those who have to live on a mire $600,000.

For people selling businesses for > $mil, If you want to avoid the 39.5% rate, couldn't you shift the money to an IRA?

It actually works out to 42.3% because there is an Obama surtax of 3.8%

And IRA limits are 5000 a year and if your income is over 185K or something like that you are ineligible to deposit anything into an IRA.

Don't you think there is a difference between some trust fund baby with tens of millions in stocks and some middle class business owner who after starting a business and running it for decades employing people and serving his community not making any exorbitant salaries and putting in long hours year after year?

Why should that business owner have to forfeit 42.3% of the value of his business when he's not one of those uberwealthy people that you all hate so much?

My experience with small business owners is that they pay themselves very well and are NOT middle-class by a long shot. If they weren't, there'd be no reason to stay in business, other than doing very little work themselves.

Small business owners work their employees to death while paying them next to nothing. The economically advantaged taking advantage of the economically disadvantaged.

I have very little regard for small business owners - they're heartless and narcissistic.

I feel sorry for their employees, so I'm all for taxing the daylights out of small business owners and providing assistance to the employees - who Don't have a million dollars to be taxed - yet worked at least as hard as the owner to make the business successful..

 

[Nostra]

So Senile Joe in his desire to tax "rich" people has proposed a capital gains tax change that will crush small business owners.

Here's how the little guy gets crushed again.

Doddering Joe wants to change the capital gains tax so that anyone with 1 million in income is no longer eligible for the 20% tax rate that has been the standard for years. So that means any small business owner who sells his business when he retires and if that one time sale puts his income over 1 million dollars he must pay 39.6% on that one time sale which was most likely his retirement nest egg.

Do you people really think that a guy who built an ran a business and probably make less than 100K a year and who sells his business so he can retire should lose 40% of his nest egg to the fucking government

The way tax brackets work is that they will pay 20% on the first million, and 39.5% any amount above that.

That's not what Joe's proposal was.

He said for households earning over 1 million the capital gains rate will be 39.6%

Capital gains taxes are not subject to tax brackets but are a flat tax

I stand corrected..

Still my heart doesn't bleed for those who have to live on a mire $600,000.

For people selling businesses for > $mil, If you want to avoid the 39.5% rate, couldn't you shift the money to an IRA?

It actually works out to 42.3% because there is an Obama surtax of 3.8%

And IRA limits are 5000 a year and if your income is over 185K or something like that you are ineligible to deposit anything into an IRA.

Don't you think there is a difference between some trust fund baby with tens of millions in stocks and some middle class business owner who after starting a business and running it for decades employing people and serving his community not making any exorbitant salaries and putting in long hours year after year?

Why should that business owner have to forfeit 42.3% of the value of his business when he's not one of those uberwealthy people that you all hate so much?

My experience with small business owners is that they pay themselves very well and are NOT middle-class by a long shot. If they weren't, there'd be no reason to stay in business, other than doing very little work themselves.

Small business owners work their employees to death while paying them next to nothing. The economically advantaged taking advantage of the economically disadvantaged.

I have very little regard for small business owners - they're heartless and narcissistic.

I feel sorry for their employees, so I'm all for taxing the daylights out of small business owners and providing assistance to the employees - who Don't have a million dollars to be taxed - yet worked at least as hard as the owner to make the business successful..

You are clearly clueless.

 

[Blues Man]

So Senile Joe in his desire to tax "rich" people has proposed a capital gains tax change that will crush small business owners.

Here's how the little guy gets crushed again.

Doddering Joe wants to change the capital gains tax so that anyone with 1 million in income is no longer eligible for the 20% tax rate that has been the standard for years. So that means any small business owner who sells his business when he retires and if that one time sale puts his income over 1 million dollars he must pay 39.6% on that one time sale which was most likely his retirement nest egg.

Do you people really think that a guy who built an ran a business and probably make less than 100K a year and who sells his business so he can retire should lose 40% of his nest egg to the fucking government

The way tax brackets work is that they will pay 20% on the first million, and 39.5% any amount above that.

That's not what Joe's proposal was.

He said for households earning over 1 million the capital gains rate will be 39.6%

Capital gains taxes are not subject to tax brackets but are a flat tax

I stand corrected..

Still my heart doesn't bleed for those who have to live on a mire $600,000.

For people selling businesses for > $mil, If you want to avoid the 39.5% rate, couldn't you shift the money to an IRA?

It actually works out to 42.3% because there is an Obama surtax of 3.8%

And IRA limits are 5000 a year and if your income is over 185K or something like that you are ineligible to deposit anything into an IRA.

Don't you think there is a difference between some trust fund baby with tens of millions in stocks and some middle class business owner who after starting a business and running it for decades employing people and serving his community not making any exorbitant salaries and putting in long hours year after year?

Why should that business owner have to forfeit 42.3% of the value of his business when he's not one of those uberwealthy people that you all hate so much?

My experience with small business owners is that they pay themselves very well and are NOT middle-class by a long shot. If they weren't, there'd be no reason to stay in business, other than doing very little work themselves.

Small business owners work their employees to death while paying them next to nothing. The economically advantaged taking advantage of the economically disadvantaged.

I have very little regard for small business owners - they're heartless and narcissistic.

I feel sorry for their employees, so I'm all for taxing the daylights out of small business owners and providing assistance to the employees - who Don't have a million dollars to be taxed - yet worked at least as hard as the owner to make the business successful..

you have limited experience

Most small business owners do not pay themselves much over what they would get as a salary anywhere else for the same position.

And anyone who has ever owned a business knows that if your employees are well taken care of your business does better.

Maybe you need to start a business and tell me how far you get by being a tyrant and treating your people like shit

 

[Richard-H]

So Senile Joe in his desire to tax "rich" people has proposed a capital gains tax change that will crush small business owners.

Here's how the little guy gets crushed again.

Doddering Joe wants to change the capital gains tax so that anyone with 1 million in income is no longer eligible for the 20% tax rate that has been the standard for years. So that means any small business owner who sells his business when he retires and if that one time sale puts his income over 1 million dollars he must pay 39.6% on that one time sale which was most likely his retirement nest egg.

Do you people really think that a guy who built an ran a business and probably make less than 100K a year and who sells his business so he can retire should lose 40% of his nest egg to the fucking government

The way tax brackets work is that they will pay 20% on the first million, and 39.5% any amount above that.

That's not what Joe's proposal was.

He said for households earning over 1 million the capital gains rate will be 39.6%

Capital gains taxes are not subject to tax brackets but are a flat tax

I stand corrected..

Still my heart doesn't bleed for those who have to live on a mire $600,000.

For people selling businesses for > $mil, If you want to avoid the 39.5% rate, couldn't you shift the money to an IRA?

It actually works out to 42.3% because there is an Obama surtax of 3.8%

And IRA limits are 5000 a year and if your income is over 185K or something like that you are ineligible to deposit anything into an IRA.

Don't you think there is a difference between some trust fund baby with tens of millions in stocks and some middle class business owner who after starting a business and running it for decades employing people and serving his community not making any exorbitant salaries and putting in long hours year after year?

Why should that business owner have to forfeit 42.3% of the value of his business when he's not one of those uberwealthy people that you all hate so much?

My experience with small business owners is that they pay themselves very well and are NOT middle-class by a long shot. If they weren't, there'd be no reason to stay in business, other than doing very little work themselves.

Small business owners work their employees to death while paying them next to nothing. The economically advantaged taking advantage of the economically disadvantaged.

I have very little regard for small business owners - they're heartless and narcissistic.

I feel sorry for their employees, so I'm all for taxing the daylights out of small business owners and providing assistance to the employees - who Don't have a million dollars to be taxed - yet worked at least as hard as the owner to make the business successful..

you have limited experience

Most small business owners do not pay themselves much over what they would get as a salary anywhere else for the same position.

And anyone who has ever owned a business knows that if your employees are well taken care of your business does better.

Maybe you need to start a business and tell me how far you get by being a tyrant and treating your people like shit

Business owners pay themselves a nice salary, then get the profits on top of that.

I've worked for several small businesses, so I know first hand that the treat employees like shit, offer no benefits and pay as little as they can get away with.

As they say in the Navy "Shit rolls downhill", no place more than in small businesses.

 

[Nostra]

So Senile Joe in his desire to tax "rich" people has proposed a capital gains tax change that will crush small business owners.

Here's how the little guy gets crushed again.

Doddering Joe wants to change the capital gains tax so that anyone with 1 million in income is no longer eligible for the 20% tax rate that has been the standard for years. So that means any small business owner who sells his business when he retires and if that one time sale puts his income over 1 million dollars he must pay 39.6% on that one time sale which was most likely his retirement nest egg.

Do you people really think that a guy who built an ran a business and probably make less than 100K a year and who sells his business so he can retire should lose 40% of his nest egg to the fucking government

The way tax brackets work is that they will pay 20% on the first million, and 39.5% any amount above that.

That's not what Joe's proposal was.

He said for households earning over 1 million the capital gains rate will be 39.6%

Capital gains taxes are not subject to tax brackets but are a flat tax

I stand corrected..

Still my heart doesn't bleed for those who have to live on a mire $600,000.

For people selling businesses for > $mil, If you want to avoid the 39.5% rate, couldn't you shift the money to an IRA?

It actually works out to 42.3% because there is an Obama surtax of 3.8%

And IRA limits are 5000 a year and if your income is over 185K or something like that you are ineligible to deposit anything into an IRA.

Don't you think there is a difference between some trust fund baby with tens of millions in stocks and some middle class business owner who after starting a business and running it for decades employing people and serving his community not making any exorbitant salaries and putting in long hours year after year?

Why should that business owner have to forfeit 42.3% of the value of his business when he's not one of those uberwealthy people that you all hate so much?

My experience with small business owners is that they pay themselves very well and are NOT middle-class by a long shot. If they weren't, there'd be no reason to stay in business, other than doing very little work themselves.

Small business owners work their employees to death while paying them next to nothing. The economically advantaged taking advantage of the economically disadvantaged.

I have very little regard for small business owners - they're heartless and narcissistic.

I feel sorry for their employees, so I'm all for taxing the daylights out of small business owners and providing assistance to the employees - who Don't have a million dollars to be taxed - yet worked at least as hard as the owner to make the business successful..

you have limited experience

Most small business owners do not pay themselves much over what they would get as a salary anywhere else for the same position.

And anyone who has ever owned a business knows that if your employees are well taken care of your business does better.

Maybe you need to start a business and tell me how far you get by being a tyrant and treating your people like shit

Business owners pay themselves a nice salary, then get the profits on top of that.

I've worked for several small businesses, so I know first hand that the treat employees like shit, offer no benefits and pay as little as they can get away with.

As they say in the Navy "Shit rolls downhill", no place more than in small businesses.

You are clearly clueless.

 

[22lcidw]

So Senile Joe in his desire to tax "rich" people has proposed a capital gains tax change that will crush small business owners.

Here's how the little guy gets crushed again.

Doddering Joe wants to change the capital gains tax so that anyone with 1 million in income is no longer eligible for the 20% tax rate that has been the standard for years. So that means any small business owner who sells his business when he retires and if that one time sale puts his income over 1 million dollars he must pay 39.6% on that one time sale which was most likely his retirement nest egg.

Do you people really think that a guy who built an ran a business and probably make less than 100K a year and who sells his business so he can retire should lose 40% of his nest egg to the fucking government

Few businesses are sold for cash. Most are sold via other methods, such as multi-year buyouts/installment sales, stock sales, sinking funds, ESOPs.

And proper planning can mitigate a good portion of taxes to which the owner is exposed.

People in rural areas pay for people in urban areas with chain stores.

 

[DBA]

So Senile Joe in his desire to tax "rich" people has proposed a capital gains tax change that will crush small business owners.

Here's how the little guy gets crushed again.

Doddering Joe wants to change the capital gains tax so that anyone with 1 million in income is no longer eligible for the 20% tax rate that has been the standard for years. So that means any small business owner who sells his business when he retires and if that one time sale puts his income over 1 million dollars he must pay 39.6% on that one time sale which was most likely his retirement nest egg.

Do you people really think that a guy who built an ran a business and probably make less than 100K a year and who sells his business so he can retire should lose 40% of his nest egg to the fucking government

Few businesses are sold for cash. Most are sold via other methods, such as multi-year buyouts/installment sales.

And proper planning can mitigate a good portion of taxes to which the owner is exposed.

Many business are sold for cash via SBA loans or bank loans.

I sold 5 commercial properties this year and will not get whacked with a 40% tax

Spreading a sale over many years can adversely affect a persons investment strategy all because for a one time transaction.

Like I said the little guy gets crushed again

Proper planning can mitigate a good portion of taxes to which the owner is exposed.

The owner is responsible for that.

Biden wants to make this tax retroactive

So even if you make the sale under current tax law the fucking government can take a second bite out of your ass.

Show me the actual legislation, and we'll discuss.

I'm not into crystal ball paranoia.

So then you realize that it's impossible to plan for the havoc Biden's proposed tax hike will cause.

This is what Biden says he will do. If the Dems win the Senate it probably will pass and it will be retroactive. You tell me I have to plan for it then you tell me you are unable to plan for it until it is passed.

Maybe now you see the position small business owners are in

Yes, I'm one, I have about 40 small business clients within my advisory, and I've written a couple of books and about 25 magazine articles on the topic.

You work within whatever system presents itself, and you plan ahead.

I'd be very much against a retroactive increase in taxes, but I'd have to look at the whole bill.

I've also learned the hard way that making assumptions and extrapolations about what the government is going to do or not do is a poor waste of time.

but it has to be done to plan for contingencies.

Do you have any client that is negotiating to sell a business early next year? Will that sale result in a one time income event that results in a 1 million dollar income for that year?

What do you tell that client today?

First, no, I don't have a client in that position. But all clients who are within 5 to 10 years or so of selling the business have been set up for minimal tax exposure in general. There's a process to this, beginning with to whom they want to sell the business (such as family, employees or third party). Then you proceed from there.

Hell, there are ways to have ZERO tax exposure when you sell a business.

I have zero (0) faith in politicians, and I don't give a shit which party they represent. So we just do what we have to do at the time.

you cannot set up any sale to take into account this situation.

We have been planning to sell for 3 years and had all kinds of planning in place and we ran dozens of stress tests on those plans.

There was no way to know about or even expect a doubling of the capital gains tax

I don't know your full situation. But rarely have I come across a situation that didn't allow for tax mitigation. 20+ years.

You mean those with the means can find loopholes and workarounds? You don’t say? So you mean it is the middle class without such means that ends up paying for al the ”free” stuff the Democrats propose? Who’d have thunk it?

 

[DBA]

So Senile Joe in his desire to tax "rich" people has proposed a capital gains tax change that will crush small business owners.

Here's how the little guy gets crushed again.

Doddering Joe wants to change the capital gains tax so that anyone with 1 million in income is no longer eligible for the 20% tax rate that has been the standard for years. So that means any small business owner who sells his business when he retires and if that one time sale puts his income over 1 million dollars he must pay 39.6% on that one time sale which was most likely his retirement nest egg.

Do you people really think that a guy who built an ran a business and probably make less than 100K a year and who sells his business so he can retire should lose 40% of his nest egg to the fucking government

Few businesses are sold for cash. Most are sold via other methods, such as multi-year buyouts/installment sales.

And proper planning can mitigate a good portion of taxes to which the owner is exposed.

Many business are sold for cash via SBA loans or bank loans.

I sold 5 commercial properties this year and will not get whacked with a 40% tax

Spreading a sale over many years can adversely affect a persons investment strategy all because for a one time transaction.

Like I said the little guy gets crushed again

Proper planning can mitigate a good portion of taxes to which the owner is exposed.

The owner is responsible for that.

You mean like what Trump did with his taxes that got all you lignut loser's panties in a twist?

No.

You're consumed by partisan politics. That's your problem, not mine.

Gotcha. When Trump does it it is cheating on his taxes.............when anyone else does it it is "planning".

Most of Trump’s detractors aren’t intelligent or informed enough to come to such a logical conclusion. MSM says he cheated, then he cheated. Keep in mind, many Democrats, if not most, don’t make enough money to itemize deductions so have no clue.

 

[Blues Man]

So Senile Joe in his desire to tax "rich" people has proposed a capital gains tax change that will crush small business owners.

Here's how the little guy gets crushed again.

Doddering Joe wants to change the capital gains tax so that anyone with 1 million in income is no longer eligible for the 20% tax rate that has been the standard for years. So that means any small business owner who sells his business when he retires and if that one time sale puts his income over 1 million dollars he must pay 39.6% on that one time sale which was most likely his retirement nest egg.

Do you people really think that a guy who built an ran a business and probably make less than 100K a year and who sells his business so he can retire should lose 40% of his nest egg to the fucking government

The way tax brackets work is that they will pay 20% on the first million, and 39.5% any amount above that.

That's not what Joe's proposal was.

He said for households earning over 1 million the capital gains rate will be 39.6%

Capital gains taxes are not subject to tax brackets but are a flat tax

I stand corrected..

Still my heart doesn't bleed for those who have to live on a mire $600,000.

For people selling businesses for > $mil, If you want to avoid the 39.5% rate, couldn't you shift the money to an IRA?

It actually works out to 42.3% because there is an Obama surtax of 3.8%

And IRA limits are 5000 a year and if your income is over 185K or something like that you are ineligible to deposit anything into an IRA.

Don't you think there is a difference between some trust fund baby with tens of millions in stocks and some middle class business owner who after starting a business and running it for decades employing people and serving his community not making any exorbitant salaries and putting in long hours year after year?

Why should that business owner have to forfeit 42.3% of the value of his business when he's not one of those uberwealthy people that you all hate so much?

My experience with small business owners is that they pay themselves very well and are NOT middle-class by a long shot. If they weren't, there'd be no reason to stay in business, other than doing very little work themselves.

Small business owners work their employees to death while paying them next to nothing. The economically advantaged taking advantage of the economically disadvantaged.

I have very little regard for small business owners - they're heartless and narcissistic.

I feel sorry for their employees, so I'm all for taxing the daylights out of small business owners and providing assistance to the employees - who Don't have a million dollars to be taxed - yet worked at least as hard as the owner to make the business successful..

you have limited experience

Most small business owners do not pay themselves much over what they would get as a salary anywhere else for the same position.

And anyone who has ever owned a business knows that if your employees are well taken care of your business does better.

Maybe you need to start a business and tell me how far you get by being a tyrant and treating your people like shit

Business owners pay themselves a nice salary, then get the profits on top of that.

I've worked for several small businesses, so I know first hand that the treat employees like shit, offer no benefits and pay as little as they can get away with.

As they say in the Navy "Shit rolls downhill", no place more than in small businesses.

You obviously know shit about running a business. Why don't you start a business and treat all your employees like shit and see how long you stay open

And if you get treated like shit at all your jobs maybe it's you and not your bosses.

You get what you give after all.

 

[hadit]

So Senile Joe in his desire to tax "rich" people has proposed a capital gains tax change that will crush small business owners.

Here's how the little guy gets crushed again.

Doddering Joe wants to change the capital gains tax so that anyone with 1 million in income is no longer eligible for the 20% tax rate that has been the standard for years. So that means any small business owner who sells his business when he retires and if that one time sale puts his income over 1 million dollars he must pay 39.6% on that one time sale which was most likely his retirement nest egg.

Do you people really think that a guy who built an ran a business and probably make less than 100K a year and who sells his business so he can retire should lose 40% of his nest egg to the fucking government

The way tax brackets work is that they will pay 20% on the first million, and 39.5% any amount above that.

That's not what Joe's proposal was.

He said for households earning over 1 million the capital gains rate will be 39.6%

Capital gains taxes are not subject to tax brackets but are a flat tax

I stand corrected..

Still my heart doesn't bleed for those who have to live on a mire $600,000.

For people selling businesses for > $mil, If you want to avoid the 39.5% rate, couldn't you shift the money to an IRA?

It actually works out to 42.3% because there is an Obama surtax of 3.8%

And IRA limits are 5000 a year and if your income is over 185K or something like that you are ineligible to deposit anything into an IRA.

Don't you think there is a difference between some trust fund baby with tens of millions in stocks and some middle class business owner who after starting a business and running it for decades employing people and serving his community not making any exorbitant salaries and putting in long hours year after year?

Why should that business owner have to forfeit 42.3% of the value of his business when he's not one of those uberwealthy people that you all hate so much?

My experience with small business owners is that they pay themselves very well and are NOT middle-class by a long shot. If they weren't, there'd be no reason to stay in business, other than doing very little work themselves.

Small business owners work their employees to death while paying them next to nothing. The economically advantaged taking advantage of the economically disadvantaged.

I have very little regard for small business owners - they're heartless and narcissistic.

I feel sorry for their employees, so I'm all for taxing the daylights out of small business owners and providing assistance to the employees - who Don't have a million dollars to be taxed - yet worked at least as hard as the owner to make the business successful..

You must have very limited exposure to small business owners.