Some clarification

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Does Obama's tax plan tax small businesses grossing over $250,000.00 or profiting over $250,000.00?
 

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You sure about that ?

I'm not from the States, but I do know a bit about Accounting and Finance, and there are a ton of businesses that make $250,000 gross ... that's not that much money (much less than a $1,000 per day in revenue), and when you subtract the expenses, most of those businesses with $250K gross wouldn't have all that much profit left over.

So not knowing a single thing about the components of Obama's tax plan, my blind guess (and the logical thing) would be that it would be based on $250,000 net.
 

Uno

Ban Teddy
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net profit. don quit distorting, it is pathetic.
 

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It is off of Profit. They would have to be set up as an S-Corp and then if they made more than 250k they would reach a new tax bracket. Therefore a healthy bottom line percentage of ten percent means they would have to gross around 2.5 million and they would profit 250k and then jump into the highest rate. Hope that makes sense.
 

Uno

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if you are a small business with a 10% bottom line you can afford a little bit more in taxes.
 

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UNO 250k is a good living, but you are by no means rich in this day and age. Why are you in business if you arent putting ten percent to the bottom line if you have been open more than two years.
 

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