Quote:
Originally Posted by NewYorkBuck
... the primary goal of a small business is to minimize taxes. I just got back from a conference where there were over 200 small business owners doing what I do, and as wealthy as they were, not one of them told me that they were making any money. Not one of them. Small business owners fear the tax man like the plague, and consequently they have the right to fear one of these candidates far more than the other......
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As a small businessman myself, I generally agree with the first of these premises, though it's not so much the goal to minimize taxes as it is to maximize post-tax income. Actually, for most independent business people the
real goal is to maximize cash flow, but that is a subject for another day.
I disagree completely that one candidate is more to be feared than the other as regards tax policy. The marginal individual tax rate is pretty unimportant to most sole proprietors; what's really important is the menu of deductions, abatements and exemptions we can avail ourselves of. Neither candidate has really said what they plan to do there, but in any event where one loophole closes another usually opens.