20 Ways ObamaCare Will Take Away Our Freedoms

CrackerJax said:

No one has said small business pays fed taxes... slow down and read carefully. gramps.

The owners of the S and LLC's pays the taxes... it's just a shift. The taxes are still paid... or are you going to tell me you as the owner paid no taxes on your income?

Click to expand...

#1. Can you please explain how the taxes are shifted to me as an individual.

#2. If I, as the owner of the company, can not figure out how to strangle all of the profit out of the company and report Zero as bottom line - something is wrong. It's a lifestyle thing, you do know.

It cost me less than $300 per year to be a corporation and enjoy all of the benefits of corporate persona. Why more people don't do it is beyond me. That's the game.

Your income from the small business is taxed through YOU the owner.....personally. This news to you? If it is... I don't think you own a small business. I found out my very first tax season.

If you can zero out your PROFITS to zero....Your business is NOT very successful....

I never managed it, not without having to worry about a strip down audit. Yes, it is true...the IRS lets the "peanut" businesses slide a bit.

Yes, again, if you have 300 dollars you can incorporate. But the persona doesn't save you much...unless you don't make much.

CrackerJax said:

Your income from the small business is taxed through YOU the owner.....personally. This news to you? If it is... I don't think you own a small business. I found out my very first tax season.

If you can zero out your PROFITS to zero....Your business is NOT very successful....

I never managed it, not without having to worry about a strip down audit. Yes, it is true...the IRS lets the "peanut" businesses slide a bit.

Yes, again, if you have 300 dollars you can incorporate. But the persona doesn't save you much...unless you don't make much.

Click to expand...

Like I said, if you don't know how to end up with virtually zero profit at the end of the year - Something in wrong.

In the truest sense of capitalism, I'd be more than happy to mentor you in how to do this....for a fee . As you well know, it's a write off.

Also, do you really think that the IRS let's stuff 'slide'? Maybe when Bill was President and the coffers were full, but 'The Decider' took care of those funds and right now the IRS isn't letting anyone off. Don't believe me? Give 'em a call.

And finally, I think your use of the word profit is not correct....I believe the word my accountant uses is 'retained earnings' and it is those bottom line (retained) earnings of my corporation that become the top line of my personal return. You know what happens then. I get all of the deductions that are available to the person who is not incorporated to eliminate whatever is left over.

Like you said.... like you said...

Like I said.... a serious small business which makes REAL SERIOUS money.... CANNOT GET TO ZERO

I should know....

Yes, the IRS slides because the tax system isset up....so folks like you with tiny profits at the end of the year don't pay.