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What does Barack Obama think about income taxes?
the rich people should pay more taxes.
How many people pay income taxes in California?
35 percent
Does obama support increasing taxes on S corporations?
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.
What percent of taxes did obama pay in 2011?
According to their tax returns, Mr. and Mrs. Obama were taxed at an effective rate of 20.5%. I enclose a link to the President's 2011 taxes.
Which countries don't pay income taxes?
Monaco doesn't pay income taxes
Will you pay taxes on your pension?
Yes could have to pay some income taxes on your pension income.
Does the estate pay taxes?
Estates pay taxes on income and may have to pay inheritance taxes.
What is the amount of income individuals have after they save and pay their taxes?
= the amount of income individuals have after they save and pay their taxes? =
On loss income money do we pay taxes taxes on it?
Generally, if you have NET income after deductions and losses, you pay tax.
Do big companies have to pay income taxes?
Yes everyone has to pay income taxes no matter what even the president.
What do state income taxes not pay for?
State income taxes don't pay for road repair in other states.
Do police officers have to pay taxes?
Yes. They pay income taxes and property taxes and sales taxes.
