zcruze Wrote:
Aug 01, 2012 12:38 PM
How does one tax an individual "BEFORE profit?" There's no BS spin. As an LLC I am taxed as an individual (read: no corporate taxation) - So everything my company profits is considered my individual income and I pay personal taxes on that. If I gross $500,000 this year, I don't get taxed on costs for rent, payroll, expenses, etc. When all is said and done, I come out with $90,000 left over - that's my businesses profit / personal profit/income - one tax payment. If there is some kind of tax proposal that I am unaware of that taxes gross receipts, please send it my way. Higher taxes certainly hit corporations harder, drains the economy, makes investors leery, etc. which can affect businesses negatively. I'm for lower corp. taxes.