An Appeal to Congress for a reduction in S/E Tax on small unincorporated businesses!
Posted 08-14-2008 at 11:48 AM by TaxGuru
To stimulate small businesses, I think Congress should provide a relief from the Self-Employment taxes especially for small businesses who have to pay 15.3% self-employment taxes.
This tax should be graduated at say 7.5% for the first $50,000 in net profits and then incremently increase to 15.3% for say when net profit increases to over $100,000.
The 15.3% tax rate is considerable burden on small businesses.
This tax should be graduated at say 7.5% for the first $50,000 in net profits and then incremently increase to 15.3% for say when net profit increases to over $100,000.
The 15.3% tax rate is considerable burden on small businesses.
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