Post
Topic
Board Politics & Society
Re: USA PRESIDENTIAL ELECTIONS 2020: Michael Moore says Trump on course to win !
by
Spendulus
on 19/10/2020, 00:59:43 UTC
....
Yeah I wasn't saying that small businesses donate to Democrats or anything along those lines. I was moreso saying that Republicans need to get out of the mindset of helping large businesses more often then they help small businesses. Things like lowering the corporate tax rate is great, but it does help big large profitable businesses moreso then small businesses which may be bringing out a small profit every year.

Taking another look at payroll taxes would help both large and small businesses alike. Deducting expenses more easily, making filing easier, etc.

A LOT of small business use the Corporate structure, and file taxes using the 1120 form. Entities such as docs and legal sharks use the 1120S. Others use the Schedule C on the regular 1040.

I have the impression that they were all seriously benefiting from the Trump tax reform. Haven't looked up numbers on it, though. But clearly cutting the top rates and increasing Section 179 depreciation to 2M per year is huge.