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Old 01-22-2014, 12:43 PM
 
69,368 posts, read 63,901,626 times
Reputation: 9383

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Quote:
Originally Posted by petch751 View Post
Anyone can say I own a business and operate under a sole proprietor. I would think you would want to take it further than that and make good money.
My businesses generate 8 figures a year, I'm still operating as a DBA.

Corporations are to shield one from lawsuits, if you have little risk of being sued, DBA's are fine.
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Old 01-22-2014, 12:50 PM
 
41,111 posts, read 25,605,982 times
Reputation: 13868
Quote:
Originally Posted by pghquest View Post
My businesses generate 8 figures a year, I'm still operating as a DBA.

Corporations are to shield one from lawsuits, if you have little risk of being sued, DBA's are fine.
lol, no kidding. DBA -> means "Doing Business As". It means what the name of your business is.

LLC -> Limited Liability Company. Even if you are a corporation and LLC. If you don't do things right they can still sue you.
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Old 01-22-2014, 12:53 PM
 
781 posts, read 733,516 times
Reputation: 1465
Quote:
Originally Posted by Dane_in_LA View Post
Really? I started one. Very easy.

Admittedly, it didn't make me a lot of money, but the act of starting it was trivial.
Anecdotal evidence.
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Old 01-22-2014, 12:55 PM
 
Location: Barrington
63,919 posts, read 46,509,429 times
Reputation: 20674
Quote:
Originally Posted by lifeexplorer View Post
We should tax those companies more so that they can move their business somewhere else instead of enslaving American people.

Some elected Congressmen love to inform people on Fox News that the U.S. has the highest corporate tax rate in the world and this is why they do not create jobs. While the tax rate is true from a statutory standpoint, the effective tax rate is the only rate that matters.

The effective average corporate tax rate in the U.S. is 12.6%, about middle of the road.

GAO: U.S. corporations pay average effective tax rate of 12.6% - Jul. 1, 2013

http://www.nytimes.com/2011/05/03/bu...ates.html?_r=0
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Old 01-22-2014, 12:57 PM
 
69,368 posts, read 63,901,626 times
Reputation: 9383
Quote:
Originally Posted by petch751 View Post
lol, no kidding. DBA -> means "Doing Business As". It means what the name of your business is.

LLC -> Limited Liability Company. Even if you are a corporation and LLC. If you don't do things right they can still sue you.
Yes I can be sued, but considering my average sale is $20, and i have no employees, whats my maximum loss if sued?

Yeah, about $20.00

its cheaper to run the risk, then pay the corporate fees.. In 13 years I've never been sued.
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Old 01-22-2014, 12:58 PM
 
69,368 posts, read 63,901,626 times
Reputation: 9383
Quote:
Originally Posted by middle-aged mom View Post
Some elected Congressmen love to inform people on Fox News that the U.S. has the highest corporate tax rate in the world and this is why they do not create jobs. While the tax rate is true from a statutory standpoint, the effective tax rate is the only rate that matters.

The effective average corporate tax rate in the U.S. is 12.6%, about middle of the road.

GAO: U.S. corporations pay average effective tax rate of 12.6% - Jul. 1, 2013

http://www.nytimes.com/2011/05/03/bu...ates.html?_r=0
The tax rates wouldnt stop one from forming a company, it actually encourages it due to write offs. The problem is most people dont understand the tax code and afraid of failing.
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Old 01-22-2014, 12:59 PM
 
26,694 posts, read 14,481,878 times
Reputation: 8094
Quote:
Originally Posted by middle-aged mom View Post
Some elected Congressmen love to inform people on Fox News that the U.S. has the highest corporate tax rate in the world and this is why they do not create jobs. While the tax rate is true from a statutory standpoint, the effective tax rate is the only rate that matters.

The effective average corporate tax rate in the U.S. is 12.6%, about middle of the road.

GAO: U.S. corporations pay average effective tax rate of 12.6% - Jul. 1, 2013

http://www.nytimes.com/2011/05/03/bu...ates.html?_r=0
95% mandatory corporate tax would be my choice!
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Old 01-22-2014, 01:01 PM
 
69,368 posts, read 63,901,626 times
Reputation: 9383
Quote:
Originally Posted by lifeexplorer View Post
95% mandatory corporate tax would be my choice!
You're far too generous says the average liberal..
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Old 01-22-2014, 01:02 PM
 
Location: Florida
77,003 posts, read 47,342,336 times
Reputation: 14795
Quote:
Originally Posted by wjtwet View Post
A new study by the World Bank and the International Finance Corp. found that the U.S. ranks well behind countries like Rwanda, Belarus and Azerbaijan in terms of how easy it is for an entrepreneur to start a new business. The U.S. did narrowly beat Uzbekistan, though.

The rankings were included in the organizations' joint study "Doing Business 2014: Understanding Regulations for Small- and Medium-Sized Businesses." The annual report, released in October, ranks the relative ease of creating a new business in 189 countries, looking at such measures as the number of procedures required, the time spent complying with them and the cost of doing so, among other factors.

Thanks president Obama for choking off jobs
US ranks behind Rwanda, Belarus, Azerbaijan in ease of creating new business, World Bank says | Fox News
Cool, US ranks #2 in Ease of Doing Business among the OECD high income nations.


Ranking of economies - Doing Business - World Bank Group
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Old 01-22-2014, 01:03 PM
 
26,694 posts, read 14,481,878 times
Reputation: 8094
Quote:
Originally Posted by middle-aged mom View Post
Those few with exceptional cognitive abilities that invent something that has the potential to change the world were and continue to be able to achieve greatness. And none of them likely gave a moment's thought to blaming government for what might have been, if only government got out of their way.

50% of all small business fail during the first 5 years. And it has nothing to do with government, federal, state and municipal. Owner inexperience/incompetence is the #1 reason, for failure. Some of these owners learn from the experience and start over. Some never do.
How about pass a law requiring minimum profit subsidy for the small businesses so that the little guys have a chance? Taxes collected from 95% corporate tax can easily pay for that.
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