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Politics : To be a Liberal,you have to believe that..... -- Ignore unavailable to you. Want to Upgrade?

To: Lizzie Tudor who wrote (2170)	9/14/1999 4:23:00 PM
From: MikeH	Respond to of 6418

I don't know, being a CPA, I feel that there is bias in the tax code. But, one thing is for sure, for wage earners and business owners, it does accurately represent how much money you make. It's another ball of wax for investors, but small business owner's get bit worse then you think. Ignoring benefits As a two person family, two kids with a salary of $50,000 - you will pay $8,640 or less in Federal and FICA taxes. As the same family, running a small business with Sales of $300,000 and expenses of $250,000, will pay $12,465 or less in Federal and FICA. If you are a C corp, you will pay more. Small business owners are treated fairly under that tax code. They are fully responsible for themselves. Once they become succesful, yes, they do have some advantageous tax strategies that can be put into play. But, even more so then others, they have to work really hard to become successful.