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LSURussian 
LSU Fan
Baton Rouge
Member since Feb 2005
63859 posts
| re: Do 97% of all small businesses really make less than $250,000? (Posted on 10/12/12 at 2:06 pm to Draconian Sanctions)
quote:
health care should be taken totally off employers backs and funded directly by the government
'by the government'??
Don't you mean by the taxpayers?? Who would pay for your generosity?
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Choctaw 
Navy Fan
Pumpin' Sunshine
Member since Jul 2007
40526 posts
| re: Do 97% of all small businesses really make less than $250,000? (Posted on 10/12/12 at 2:08 pm to Draconian Sanctions)
quote:
funded directly by the government
nothing is funded "directly by the government"
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TROLA
LSU Fan
BATON ROUGE
Member since Apr 2004
5276 posts
| re: Do 97% of all small businesses really make less than $250,000? (Posted on 10/12/12 at 2:10 pm to buddhavista)
quote:
his means your are pulling 1M+ in sales. I think that starts to look like an actual business and not a small business.
Try going to the bank with that line of thinking.. My company will do near 3 million this year in revenue and we are a small pea to banks.
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davesdawgs 
Georgia Fan
Georgia
Member since Oct 2008
11108 posts
| re: Do 97% of all small businesses really make less than $250,000? (Posted on 10/12/12 at 2:11 pm to buddhavista)
quote:
if they are making 250k+ in net income, then I would suggest your business isn't all that small unless your margins are absolutely sick. But let's say you net margin is 25%, which is really incredibly high for most businesses. This means your are pulling 1M+ in sales. I think that starts to look like an actual business and not a small business.
Oh, and its real easy to hide that $$. Besides skimming, you also can hire your wife, your kids, etc, to funnel money to yourself.
While I agree if you just think about the 97% that are making less than 250k, just how many employees can they have? Maybe 10-15 at the most. As I linked above, the vast majority of this 97% are individual owners with no employees and therefore not a big factor in terms of employment. It's the 3% making more than 250k that are the main employment factor and who are being hurt by Obamacare and Obama's tax policy plans.
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redfieldk717 
UTEP Fan
Monroe
Member since Oct 2011
13875 posts
| re: Do 97% of all small businesses really make less than $250,000? (Posted on 10/12/12 at 2:11 pm to Y.A. Tittle)
quote:
Net reported income? It's probably right.
exactly, you dems defending this are sadly misinformed....do you know how many small business buy company cars, have company credit cards, and pay off house notes through the company? my boss pays all of his personal bills through the company checking account and credit card to minimize taxes at the end of the year, along with the bonuses someone mentioned above. biden is trying to twist this into being a relevant statistic
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ljhog 
Arkansas Fan
Lake Jackson, Tx.
Member since Apr 2009
9027 posts
| re: Do 97% of all small businesses really make less than $250,000? (Posted on 10/12/12 at 2:23 pm to WaveHog)
quote:
That group — about 750,000 taxpayers — accounts for 50 percent of the estimated $1 trillion in business income reported in 2011.
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Willie Stroker
LSU Fan
Houston...ish
Member since Sep 2008
4326 posts
| re: Do 97% of all small businesses really make less than $250,000? (Posted on 10/12/12 at 8:16 pm to Tiger n Miami AU83)
quote:
Tiger n Miami AU83
quote:
Back to work for me.
Translation: "I got busted making up so much shite on this thread, I need to bail before anyone notices how I failed to respond to everyone calling out my bull shite over that intensely stupid Bush tax cut was for the purpose of redistributing wealth upward comment."
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boxcar willie
LSU Fan
kenner
Member since Mar 2011
2867 posts
| re: Do 97% of all small businesses really make less than $250,000? (Posted on 10/12/12 at 8:23 pm to heehaw)
quote:
Most small business owners I know admit that they hide income.
true. I get told that by friends who run there own businesses how little income they can report
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Jcorye1
LSU Fan
Tom Terrific (greater than) Brees
Member since Dec 2007
23610 posts
| re: Do 97% of all small businesses really make less than $250,000? (Posted on 10/13/12 at 12:32 pm to lsufan1971)
No, it's called a sole proprietorship. they are taxed at the individual level after filling out a k2 and such.
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Jcorye1
LSU Fan
Tom Terrific (greater than) Brees
Member since Dec 2007
23610 posts
| re: Do 97% of all small businesses really make less than $250,000? (Posted on 10/13/12 at 12:33 pm to redfieldk717)
Yeah he will have some serious fun when he's audited.
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wickowick
LSU Fan
Head of Island
Member since Dec 2006
13455 posts
| re: Do 97% of all small businesses really make less than $250,000? (Posted on 10/13/12 at 12:33 pm to boxcar willie)
quote:
true. I get told that by friends who run there own businesses how little income they can report
Sounds like another good argument for a consumption tax...
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