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Strategies & Market Trends : ahhaha's ahs

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To: Mark Adams who wrote (3144)	10/17/2001 10:49:16 PM
From: ahhaha	Read Replies (1) of 24758

The tax savings is sometimes severely limited by the added accounting expense, I know whenever I explored this option for my own business it was a dollar swap.< That is also my case. And the basis for my concern about these added costs adding friction. Well, does friction decline if no taxes on business are assessed? How about only taxing consumption or ordinary income? Then you are only taxing squander rather than taxing the means of production. Before these changes, the effective rate of taxation on sole proprietors was close to 60%....try getting ahead with that kind of overhead. I know, firsthand. Had a small schedule c entity for awhile, and learned alot about marginal and effective tax rates. I disposed of the business after learning the ropes. But you didn't do that because of the taxing circumstances, did you? You don't need to direct me to amateur claims. I've set up LLCs before. The Nolo series are very good guides for laymen to legal issues. IMO. They;'re crap. The only way you learn is you set it up and then you get the nad news that no one knew because it wasn't what happened when they did it. My primary concern is limited liability, not taxes. The LLC seems to present a lower accounting/legal overhead while offering the ability to act as both a pass through or corporate entity, with the ability to change the election after formation. Running from taxes? Shirking your responsibility to provide for the poor? Acting like all the hypocrites I've seen for 35 years in professional life dealing with the nonsensical and counter productive rules of taxation? The moral rationalization is exactly and only that. Your concern is how you will maximize money over time. So how is it in your interest to maintain taxes? It isn't. Your true motivation is to slam the other guy with the tax weapon because they're slamming you with it. That sounds like Economic Darwinism. You can't be on a socialism march and have that explanation in your hat.

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