Could a CPA or other tax expert educate me? It's my understanding that the owner of a single proprietorship pays taxes on the business profits, then pays on those profits again as personal income unless he/she is paying themselves as part of the business expenses. Three percent on $200,000, that's someones part-time job that could keep them off the government dole. Hmm, do they pay a person $6,000 and they pay taxes, or give it to government so that person can get $1,000 in assistance?
jpttm July 27, 2010
at 9:32pm
Could a CPA or other tax expert educate me? It's my understanding that the owner of a single proprietorship pays taxes on the business profits, then pays on those profits again as personal income unless he/she is paying themselves as part of the business expenses. Three percent on $200,000, that's someones part-time job that could keep them off the government dole. Hmm, do they pay a person $6,000 and they pay taxes, or give it to government so that person can get $1,000 in assistance?