Posted on 06/22/2010 10:19:47 AM PDT by Andrea19
When the Senate takes up the extenders package, one of the provisions (found in Section 413 of the amendment language) would for the first time impose the self-employment tax on S-corporation profits earned by firms with three or fewer shareholders, and in which 80 percent or more of the gross income is derived from personal services (health, law, lobbying, engineering, architecture, accounting, actuarial science, performance arts, consulting, athletics, investment advice/management, and brokerage services)...
Read more: http://www.atr.org/senate-extenders-bill-raises-taxes-onbr-a5116#ixzz0rbS2ibD4
(Excerpt) Read more at atr.org ...
Help promote Conservative activism here & here & here & here
“O” is going to raid the till... to the last penny!
Isn’t it amazing that they simply did not submit a budget—isn’t that a constitutional responsibility? Not that it would matter....
This ruins business for my and many other engineering/product development consulting businesses.
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