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If you were him, you probably wouldn't have started this pointless thread.
I'm not the one screaming about having to pay more in Fica taxes. Prior tax code allowed the business owner to set his pay rate, they could comply with the law or take a risk and set their pay rate way too low to avoid paying more Fica taxes. As I said it is a risk, you can be caught or not. The new tax law took that ability to cheat away.
Lets say you own a business and pay yourself $50k but your profit was $500k. This owner is paying themselves way below what is reasonable and avoiding paying Fica taxes. That's now changed.
No, I'm just saying that the IRS rules state that the owner of an S-corp must pay the owner what is considered a reasonable employee compensation. A S-corp who pays themselves too little is a red flag. If the IRS questions him, he better have a good reason for paying himself the wage he paid.
What I pay is the norm in my industry, and what my CPA recommended. I get letters from IRS all the time, asking for all kinds of documents, since they are in business of harassing small business. No issues with my salary amounts. Nice try, but no cigar.
I'm not the one screaming about having to pay more in Fica taxes. Prior tax code allowed the business owner to set his pay rate, they could comply with the law or take a risk and set their pay rate way too low to avoid paying more Fica taxes. As I said it is a risk, you can be caught or not. The new tax law took that ability to cheat away.
Aaahhhh....so using existing tax code is cheating I guess Trump was a master cheat
I guess small businesses will have to find other legal ways to 'cheat', or just admit they are being shafted by Trump-Tax and there is nothing they can do. Well, they can take a full time job, which is what many of my colleagues are considering. Either way, Trump Tax is a small corp killer.
Kevin de León (D) who is president pro tem of the CA Senate, announced plans to introduce legislation. Kevin de León and other legislators concede that they are trying to game the system.
Republicans argue there is a much simpler solution for high-tax states... "lower their taxes".
I'm not the one screaming about having to pay more in Fica taxes. Prior tax code allowed the business owner to set his pay rate, they could comply with the law or take a risk and set their pay rate way too low to avoid paying more Fica taxes. As I said it is a risk, you can be caught or not. The new tax law took that ability to cheat away.
Lets say you own a business and pay yourself $50k but your profit was $500k. This owner is paying themselves way below what is reasonable and avoiding paying Fica taxes. That's now changed.
How much is too little? If I had an S-corp I'd feel rich paying myself $50.000.
So you don’t want to tax the rich as your well spoken and clean idiot wanted to do. I am confused. I never met a liberal who didn’t like taxes, especially on the rich.
Now you seem to back track now that it might hit you personally in the pocket book. Good. Pay up or talk to your local politicians about your state tax load. Your state taxes are not the problem of the fed.
I never said I don't want to tax the rich. I said I don't want to tax the middle class, something that way too many right-wingers love to do.
My taxes is absolutely the problem of the Feds! I know right-wingers don't believe in a good government, but government is here to serve the people. This is exactly what my tax dollar is for.
"Wal-mart has helped to create more poor people, helping move the working class economy from good paying jobs with benefits and retirements to low wage jobs with poor benefits."
That has been debated for years.
MANY of those stats do NOT include the military and the dollars it brings into the state.
I never said anything about Wal-mart. You have mixed up your post reply.
Liberals have been paying MORE than their fair share.
The question is: Why don't conservatives pay their fair share??
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