Tag Archives: unincorporated businesses

The situation is becoming untenable

July 17, 2018 Roy A. Ackerman, Ph.D., E.A. 3 Comments

Ah, yes. The truth- and the dangers- are now becoming obvious.

The GOP was desperate to provide a benefit to their benefactors. So, they lowered the corporate tax rates to a ridiculously low 21%. Even though most corporations never paid the much bandied about 35% rate. (Only professional corporations and small businesses got stuck with that level of taxes. Big corporations always hid- and still do- their profits from the tax man.)

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Dewey, Cheatem, and Howe?

July 11, 2016 Roy A. Ackerman, Ph.D., E.A. 11 Comments

Tick, tock. The clock is running.

The IRS believes that folks with self-employment income- those who file Schedule C with their 1040- are hiding income. How much? Enough to add $ 125 billion to the US Treasury. (Notice that is the total of the taxes due, not how much revenue is being unreported.) And, these folks are responsible for about 27% of the total taxes not being paid per the law.

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