Obama trying to close S CORP tax loophole

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7 points by alohahacker 5163 days ago

Alot of us including myself have formed s corps to save money through distributions we take.

Obama is trying to close this tax benefit and instead tax the whole portion of profits with medicare etc. instead of just wages.

I don't see how this helps small business at all. Means less money in our pockets.

1 comments

I don't see how this going to help small businesses.

As a registered small business S Corp, if this passed it would be thousands more in taxes for me( about 10k).