Obama trying to close S CORP tax loophole

Posted by alohahacker on Wednesday April 25, 2012 @02:58AM
from the news.yahoo.com dept.

Alot of us including myself have formed s corps to save money through distributions we take.

Obama is trying to close this tax benefit and instead tax the whole portion of profits with medicare etc. instead of just wages.

I don't see how this helps small business at all. Means less money in our pockets.

( 1 comment | 7 points | on HN )

Re:Obama trying to close S CORP tax loophole by alohahacker on Wednesday April 25, 2012 @04:14PM (#3890820)

I don't see how this going to help small businesses.

As a registered small business S Corp, if this passed it would be thousands more in taxes for me( about 10k).

[ Parent | on HN ]