To: RobFromGa
No he kept his portion, and I assumed the business kept the "employer's" portion. So you switched him midstream from an S corp to a C corp? If he's an S corp, the money is his.
128 posted on
08/23/2005 11:08:29 AM PDT by
Ditto
( No trees were killed in sending this message, but billions of electrons were inconvenienced.)
To: Ditto
If he's an S corp, the money is his. You are right, it really is "his" but I was trying to give the FairTax the biggest benefit of the doubt possible. If I don't let the bakery keep half of the Self-Employment Tax and I give all 15% to the owner, then the example is even worse for the FairTax argument and the business can't save even ten percent.
133 posted on
08/23/2005 11:33:09 AM PDT by
RobFromGa
(Afghanistan, Iraq, Iran-- what are we waiting for?)
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