How Higher Taxes Will Affect Small Biz
There has been lots of talk about the effect raising taxes will have on small business. Some claim that higher taxes will have no impact on small businesses, while other state that higher taxes will cost small businesses big time. In Washington D.C. the argument is a hot topic.
According to the Center on Budget and Policy Priorities an increase in taxation on the rich will not hurt most small businesses. Their research found that only 2.5% of small business owners will be negatively affected by higher taxes.
However, many conservative politicians argue that small businesses would hurt small firms. Presidential candidate Mitt Romney says that since many small business owners file taxes as individuals higher taxes will be an an issue.
Are you worried about an increase in taxes and how it may hurt your business?