Seriously, they need to give it up. Who do they think is buying this crap?!

[jmowreader]

38. Simple guide to how businesses are taxed

A business takes in monies from its customers. That's what it's there for.

A lot of expensive equipment can be "depreciated" - it loses its value over time. There are several depreciation schedules that you can use to figure out how much of that you can deduct from your taxable income. You do that. Eventually your equipment depreciates out and you can't deduct it anymore; to keep this deduction going you have to buy new equipment...which is one of the main reasons they time-limit the deduction.

Then you add up everything you paid to make the money you are going to send some of to the government. Deduct all of that from your taxable income. (Salaries are one of the things you can deduct.)

Whatever you have left is taxable, and there are two ways you can do it.

If you are running a limited liability company or a Subchapter S corporation (Google is your friend), the company does not pay taxes. Instead, the money the company makes is taxed on the owners' personal tax returns and reported on Schedule C. Since it's personal tax, the same brackets we wage serfs use apply.

If you are running a Subchapter C corporation, which is for large corporations but can be used for small ones, tax is paid at a flat 35 percent.