My goodness, what a turn for the worst this thread has taken.
All W-2s, 1099's, whether your small buisness is a C-corp, S-corp, or LLC. will be due by this time tomorrow.
LOL
I would guess to truly discuss impact of any tax proposal on small business it would first be necessary to determine what constitutes a small business. Is it the one man sub contract construction worker, the
200 employee grocery chain, or somewhere in between? Or is it defined by the gross revenue ?
I have not seen either candidate discuss tax proposals in such detail as to truly ascertain the ramifications of said proposals.
I believe that our current tax code is so complex that few, if any, lay persons, (by that i mean those other than experts in a given area of tax law) can intelligently discuss the effects of tax laws on individuals and their business. We all know that whoever is elected their tax changes will probably not become law in their current state, as changes, add-ons, and the like will be necessary to get the bill to pass the house and senate.
For the life of me I can't understand how either candidate can promise tax cuts. Someone at some time
is going to have to pay for the wars in Iraq and Afghanistan, the massive bailout bill, and the now huge
national debt. I guess it takes bigger minds then mine, so ladies have at it.
Gary