To: DTxAg
Since when is payroll not a business tax deduction? From the IRS web site:
Payroll And Benefits Typically, payroll expenses and employee benefits are the largest expense of small business employers. Payroll and employee benefits include gross salary, hourly wages, employee health insurance and administration fees for company retirement plans. Fortunately, payroll and employee benefits are a business tax deduction. However, the IRS requires employers to file annual and quarterly payroll tax returns. Periodically, the IRS matches amounts reported on annual payroll tax returns to amounts reported on annual income tax returns. Therefore, business owners must ensure payroll and employee benefits have substantiated backup.
179 posted on
10/12/2011 5:06:31 PM PDT by
Crusher138
("Then conquer we must, for our cause it is just")
To: Crusher138
Since when is payroll not a business tax deduction?
Because, from Herman Cain's 9-9-9 website:
Business Flat Tax 9%
Gross income less all investments, all purchases from other businesses and all dividends paid to shareholders.
Empowerment Zones will offer additional deductions for payroll employed in the zone.
Businesses outside of empowerment zones pay 9% on gross income less all investments, all purchases from other businesses and all dividends paid to shareholders. Nothing there about payments to employees.
Inside empowerment zones, there is a deduction for payroll.
180 posted on
10/12/2011 5:31:30 PM PDT by
DTxAg
(The Presidency is not an entry-level position.)
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