PLEASE READ AND UNDERSTAND THE ENTIRE POST BEFORE ANSWERING. TY!
Unless something changes I will probably close my business when Obama's new taxes start in 2011. My sole proprietorship(mom & pop) business files an individual return. We made $280,000.00 last year. After payroll, taxes and business expenses my family made $70,000,00.
Under Obama's new plan I will no longer be able to "itemize" deductions. That means I can't claim ANY business expenses such as payroll and the cost of producing the goods I sell. Based on these projections my family will make less than $20,000.00 total for the yr. This is with me and hubby working 50 plus hr weeks.
Small businesses like mine are the backbone of the country. Where will people work?
http://blogs.abcnews.com/politicalpunch/2009/02/obamas-budget-a.html I will post link below.
Yes, it is a blog. However, it is written by ABC's Senior White House Correspondent.
Sounds like you need to go back to school and get a degree huh just like everyone else its sad but what can you do ?
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