To comprehend U.S. tax policy, you need to understand how taxes impact small business owners. That’s because when politicians discuss taxes, they almost always pay attention to their effect on those who own companies. So what does IRS data show about small business owners and taxes?
Business ownership is a bigger source of income for wealthy people than for those who have less money. IRS data show that income from business ownership accounted for 20 percent of the adjusted gross income (AGI) of tax filers with incomes of more than $250,000 in 2008, but only three percent of the AGI of those earning less than $250,000.
To read the full, original article click on this link: Facts About Small Business Taxpayers
Author: Scott Shane
