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Will Obama raising taxes on my employer be good or bad for me?

Mon, 08 Apr 2013 02:44:37 +0000

Question by US Government: Will Obama raising taxes on my employer be good or bad for me?
I read Obama’s budget and plan to raise taxes and I have reservations.
It’s a small business and we are already undermanned so I’m nervous about losing my job.
Thanks.

Best answer:

Answer by thepewterguy
Ummm Watch your paycheck… then get back to us next month on what you found…

† FNS †

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If small business tax cuts and capital gains tax cuts are good enough for Obama to enact right now?

Fri, 21 Sep 2012 15:02:27 +0000

Question by lienot: If small business tax cuts and capital gains tax cuts are good enough for Obama to enact right now?
to get the economy going (which Republicans have always advocated) then why not just keep them in place or do we just want a boost in the economy until after the 2010 elections?

Best answer:

Answer by suthrnlyts
If you know anything about small businesses, you’ll realize that Obama’s proposed capital gains tax cuts is a joke:

Let’s look at the definition of a capital gains tax:

“A capital gains tax (abbreviated: CGT) is a tax charged on capital gains, the profit realized on the sale of a non-inventory asset that was purchased at a lower price. The most common capital gains are realized from the sale of stocks, bonds, precious metals and property.”

Do you see the big glaring problem here? The problem with small businesses is not what they pay in capital gains taxes, its what they pay in INCOME taxes. The owners of these businesses are not sitting back worrying themselves to death over paying a tax on the profit from the sale of a non-inventory asset that they purchased for a lower price. They’re worried about the taxes they pay on their profit! And they’re worried that those taxes are going to increase! Why? Because these small business owners are the exact people Obama talks about when he talks about tax increases on the rich. These are the very same people that Pelosi is talking about when she rants about a surtax on the rich to pay for health care. These are the people who are going to get nailed when the Democrats celebrate the expiration of the Bush tax cuts. These are the people that some Senate Democrats want to hit with a “war tax” to pay for Afghanistan. The Community Organizer wants you to think that the issue is capital gains taxes?

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Q&A: I have a small business, does anybody know of a good website service to help me with taxes?

Sat, 03 Sep 2011 10:43:49 +0000

Question by Stacey: I have a small business, does anybody know of a good website service to help me with taxes?
I need help with taxes for my small business, does anyone know of a good site online that is reputable that can take you through the process step by step?

Best answer:

Answer by Feeling Mutual
Yes, try turbotax

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How good of a idea is it to use the tax act website to file for income taxes , small business , and 1040EZ ?

Fri, 12 Aug 2011 01:20:09 +0000

Question by JT289385: How good of a idea is it to use the tax act website to file for income taxes , small business , and 1040EZ ?

Best answer:

Answer by Elizabeth99
I love TaxAct but I’ve never used their website to file. I always buy and download the 1040 deluxe (so I can import previous years’ returns) and the 1120 and the 1065 for businesses. But their interview process is great – it asks the right questions that I never would have figured out, without their guidance. I expect their online interface would be equally fabulous, and you would have your files stored in a more secure location than your home PC. (hm…)

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What good is a middle class tax break if your rich small business boss’ taxes go up & he has to lay you off?

Fri, 22 Jul 2011 05:07:48 +0000

Question by Obama Kistan: What good is a middle class tax break if your rich small business boss’ taxes go up & he has to lay you off?
Most of the so-called rich the Libs are complaining about are small business owners who have already publicly said they will be forced to lay millions of Americans if their taxes go up.

Best answer:

Answer by Brandon ?s Baby Isaac
If you employ millions, you’re not a small business. and a 3% tax increase on PROFIT isn’t going to change their bottom line much, anyway.

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What is a good book on small business taxes?

Thu, 02 Jun 2011 14:22:06 +0000

Question by eyegirl: What is a good book on small business taxes?
I am looking for advice on how to best work my deductions and tax advantages as a small business owner.

Best answer:

Answer by Trinley
Here you go

http://www.amazon.com/exec/obidos/ASIN/1413305296

http://www.amazon.com/exec/obidos/ASIN/0471714437

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