Corporate Tax rate

Discussion in 'Ask An Owner Operator' started by Beaver9, Mar 29, 2022.

  1. Mar 29, 2022 #1
    Beaver9

    Beaver9 Heavy Load Member

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    Biden moves on to approve a corporate tax hike to 28% in 2023.
    I don't know what they are thinking. When inflation already takes away extra 15%-20%, small guys might not be making it.
     
    Beaver9, Mar 29, 2022
    Beaver9, Mar 29, 2022
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  3. Mar 29, 2022 #2
    Accidental Trucker

    Accidental Trucker Road Train Member

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    Not really relevant to small business, since anyone with a small Corp and some good sense is either a sub-S or LLC with a sub-s election, and aren’t subject to corporate income tax.

    C-Corps will take it on the chin, if they have no way to avoid showing income.
     
    Accidental Trucker, Mar 29, 2022
    Accidental Trucker, Mar 29, 2022
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  4. Mar 29, 2022 #3
    gentleroger

    gentleroger Road Train Member

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    gentleroger, Mar 29, 2022
    gentleroger, Mar 29, 2022
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  5. Mar 29, 2022 #4
    Beaver9

    Beaver9 Heavy Load Member

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    Thank you!
     
    Beaver9, Mar 29, 2022
    Beaver9, Mar 29, 2022
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  7. Mar 30, 2022 #5
    ProfessionalNoticer

    ProfessionalNoticer Road Train Member

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    That's the goal. Haven't you gotten the memo yet? Destruction of the middle class is in full swing.
     
    ProfessionalNoticer, Mar 30, 2022
    ProfessionalNoticer, Mar 30, 2022
    #5
  8. Mar 30, 2022 #6
    Beaver9

    Beaver9 Heavy Load Member

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    I didn't think they are going to stick with it. Politicians say a lot but do little. But it seems this one is going to stick around.
    It won't affect most of us unless we received the wrong memo. The lower middle class shouldn't be affected by it.
     
    Beaver9, Mar 30, 2022
    Beaver9, Mar 30, 2022
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