It’s apparant that government spending is taking on a whole new dimension. Healthcare reform, job creation, bailing out too many failing banks and other businesses all cost big bucks. Which is why there’s a lot of work behind the scenes in Washington related to increasing taxes on small business owners.
If you’re like me, you manage your business through an entity such as sole proprietorship, an “S” corp or Limited Liability company that can be taxed in similar ways. The income we generate “flows through” to our individual tax returns. Most of us have employees and the many responsibilites involved with managing and growing a business. And things could change in a big way for us very soon. And if these higher costs happen, the impact on small business owners will be significant.
With the threat of higher taxes, surcharges and penalties associated with small business ownership, we need to take a stand. We need to let our representatives know how we feel. We need to be aware of what’s happening. If not, we are sure to see new legislation pass at that will significantly increase the cost of starting, funding and growing a business.
Take the time to read National Center for Policy Analysis article entitled, “Soaking the Rich and Drenching Small Business” report.
Clifford Jones, Founder
WealthNet Partners, LLC
“Discover The Art of Business Development”
Scottsdale, Arizona
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