presidential debate/ taxes.?
can someone please clear up one thing, are mccain and obama talking about a tax PROFIT or 250k? or just in general how much is coming in the business?
Update:my folks own a small business they employ 7 americans they don't make that much and are incorporated. basically mccain is saying we make that much? no small business owener around our shop makes that much!
More Questions From This User See All
![BHH [Bustin' Ho's Heads]](https://q2a.es/img/profile/B/BHHccBustinccx27ccHoccx27cscHeadsc.jpg)
Answers & Comments
Verified answer
It's a tax on the BOTTOM LINE after all salaries and expenses, and it only applies to small businesses that do not incorporate but use a special tax provision called the S-Corporation.
The owner of such a business gets to keep the $250k as income if she so chooses.