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View Diary: Do YOU understand how tax brackets work??? (124 comments)

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  •  Furthermore.. (0+ / 0-)

    Taxes are only paid on income. Not on gross sales.

    These mythical small businesses that are making $250,000+ would have to be making that net. That's after deducting for expenses - including payroll, utilities, rents, equipment purchases, advertising and much more... basically everything you have to spend to operate your business.

    So, they'd probably have to have sales approaching $700K or so (though, this will depend on the nature of the business).

    And if you don't want to pay the little bit extra? Fine - plow that money back into growing your business, and increase your expenses so that you keep your taxable income low.

    People making this kind of money on their small business are not only doing just fine - they're doing spectacularly.  

    Freedom isn't free. So quit whining and pay your taxes.

    by walk2live on Mon Nov 19, 2012 at 09:25:32 PM PST

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