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Reply #7: Your BIL is wrong! If a sole proprietorship reaches a level [View All]

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Home » Discuss » Archives » General Discussion: Presidential (Through Nov 2009) Donate to DU
napi21 Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Oct-13-05 09:58 PM
Response to Reply #5
7. Your BIL is wrong! If a sole proprietorship reaches a level
big enough to have income in the top 1%, they would have tax accountants work things out in a different structure. More than likely, a Corporation, so it could take advantage of all the loopholes created specifically for Corps.
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  -Can anyone direct me toward information on how small businesses are taxed? Gonnabuymeagun  Oct-13-05 09:28 PM   #0 
  - Depends on type of business.  CrackpotAmerica   Oct-13-05 09:31 PM   #1 
  - Let's go with sole proprietership?  Gonnabuymeagun   Oct-13-05 09:41 PM   #2 
     - You fill out a 1040 A  CrackpotAmerica   Oct-13-05 09:43 PM   #3 
        - Same with LLC and partnerships  sybylla   Oct-13-05 09:50 PM   #4 
        - Do you think this is fair  Gonnabuymeagun   Oct-13-05 09:55 PM   #6 
           - Of course, it was my choice.  sybylla   Oct-13-05 10:07 PM   #9 
        - To clarify  Gonnabuymeagun   Oct-13-05 09:51 PM   #5 
           - Your BIL is wrong! If a sole proprietorship reaches a level  napi21   Oct-13-05 09:58 PM   #7 
  - You Must Consider it This Way  CrackpotAmerica   Oct-13-05 10:03 PM   #8 
  - It is hard to put an exact number on it.  CrackpotAmerica   Oct-13-05 10:08 PM   #10 
  - Lower the taxes on small business since they are the only ones  applegrove   Oct-13-05 10:13 PM   #11 
  - My taxes are minimal when compared to the ride the insurance  tsuki   Oct-14-05 02:57 AM   #12 
 

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