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David Johnston’s Estimate for Small Businesses

David Cay Johnston is a tax expert and Pulitzer Prize winner. He ran the numbers to figure out how the proposed tax plan will affect small businesses. At the present time, small business owners and self-employed individuals pay out a tax rate of 10% and 15% on profits, if their particular income is less than $125,000. Henceforth, the newest tax program increases the tax rate to 25% on two-thirds of profit and 10-15% on the rest.

Proposed Tax Plan

Photo courtesy of Paul Moriń£i (http://ow.ly/lyTl30ls8pD)

You can learn more about the proposed tax plan the link!

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