You have got to be f'n kidding 333386. Private business must revolt against this president. People, thats not $250K taken home by a business owner, thats money before taxes and expenses!
This president will do more harm to small business than anyone since Carter and in a time of recession. How can they justify crucifying private business like this? Its already incredibly hard to maintain a profitable business. He's going to try to make more loans available but have higher taxes for even moderately profitable businesses. Socialist. I have denied it for too long. Obama is a socialist and falls in like with other socialist leaning democrats. I am incredibly dissapointed. I was hoping him to be a centrist, I really was.
Because they know people will remember the speech, not the actual actions.
My advise is to try to run as much expenses as legally possible through your business.
Hire people on 1099 and let them deal with the taxes so long as they meet the qualifications of an IC.
Make your purchases online from out of state companies to avoid local sales tax.
Set up a SEP where you can reduce your taxes and contribute to a pension.
If they want to play this gamme, fine, there are legal thing we can do to minimize our tax exposure.
