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This is a double sided question. The direct answer is that Obama will not raise taxes on S-Corporations. S-Corporations rarely pay taxes. Their profits flow through a schedule K-1 to the owners individual income tax return.
If Obama raises personal income taxes, which he probably will, then yes you will pay more.
The biggest issue with Obama and S-Corporations is the fact that Obama wants the profits from an S-Corporation to be subject to Social security Taxes. Under present law, an owner of an S-Corporation can take distributions of profits and not pay social security taxes. The only tax you pay on S-Corp profits is federal income taxes. If he does pass this change then owners of S-Corps will pay upwards of 15.3% of their profits for Social Security Taxes. Thus eliminating the need to form an S-Corp.
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Do Corporations pay their fair share of taxes?
Corporations and the wealthy in the United States pay the vast majority of taxes to support the country. 5% of the people in the United States pay 95% of the taxes collected. I am certainly not one of these 5% but I do recognize that the wealthy in this country support the rest of us as they pay their share and our share of the taxes. They also produce the jobs through business ownership and investments to companies so that they can expand and offer jobs to the rest of us. It takes this type of investments and business ownership to run this country and probably the rest of the countries as well.
What is a corporation that does not pay any federal income taxes?
S corporations
What percentage of C Corporations actually pay corporate taxes?
Most of the C Corporations pay taxes and lots of taxes. It's just another media hype to say they don't. Remember, Corporations don't have exemptions, standard deductions, etc. like people do. The media likes to make noise about any credits given to business but business not only pays boatloads of taxes, but businesses provide jobs that run the economy.
What percentage of federal income taxes was paid by Corporations in 1950 and what do they pay today?
30%
Can taxes can be shifted from one individual to another through the process of increasing the price of the goods sold?
Indirect Taxes.
Does Barack Obama support taxes?
There is no such thing as "supports taxes" or "does not support taxes." Taxes are a fact of life, there is no way for Pres. Obama to not support taxes. President Obama supports a progressive tax, meaning rates are higher on the rich then the poor.
Will Barack Obama rise taxes?
Barack Obama states he will not raise taxes.
Why is Obama increasing your Taxes?
He isn't. This is political rhetoric from the president's opponents. It is common in politics for one side to accuse the other of raising taxes, but in this case, there is evidence that President Obama has actually given Americans a number of tax cuts. I enclose a link with further information about that.
What is obama point of view on the taxes?
raise taxes
How much has Obama raised taxes?
Actually, most objective sources say he has cut taxes, especially for small businesses and working families. His political opponents claim he raised taxes on everyone, but there is not much evidence to support this claim. In late 2011, the fact-checking site Politifact.com said President Obama's assertion that he had lowered taxes for the middle class was true.
What percentage of US Taxes do corporations pay?
15
Can you give a list of Obama's staff who actually paid taxes?
There are currently 100 Obama staff members that have not yet filed taxes.
Do Corporations pay their fair share of taxes?
Corporations and the wealthy in the United States pay the vast majority of taxes to support the country. 5% of the people in the United States pay 95% of the taxes collected. I am certainly not one of these 5% but I do recognize that the wealthy in this country support the rest of us as they pay their share and our share of the taxes. They also produce the jobs through business ownership and investments to companies so that they can expand and offer jobs to the rest of us. It takes this type of investments and business ownership to run this country and probably the rest of the countries as well.
How does Barack Obama feel about taxes?
Obama loves taxes because he's a politician and all they want is more federal power. Obama's also a liberal and thus twice as bad as a normal politician. So Obama loves taxes because they add to the federal reserve.
Which of these actions would most likely not be supported by George HW Bush at the beginning of his presidency?
Increasing Taxes
What does double taxation mean?
Corporations pay income taxes on their profits, and stockholders pay taxes on their dividends.
What is Barack Obama's point of view on taxes?
From what Obama's statements he wants to make taxes fair for everyone , even the wealthier americans of the u.s
