Small businesses could be doing so much better not only for themselves but for their employees as well if they weren’t burdened with so many taxes like payroll tax. There should be no reason a small business that has 3 employees pays over $1000 each payroll period on top of the other taxes they pay. How are our small business supposed to grow if they can’t even save and grow when the financial rug is constantly being swept up from under us? Now the example I gave was a very small business. my small business. but this is for all. If you have 3 employees or 20, we need to stop getting crushed by taxes.
Our economy needs small businesses. We need to get back to encouraging our young people to go after their dreams and become entrepreneurs. We need to start creating things for ourselves again and we do that by helping our small businesses.
Full agreement & support for this! What a ridiculous idea that you should be taxed for employing people. That is the most basic gov’t undermining of small businesses. Taxed for lowering unemployment?!? Insane, should be removed Day 1! #TeamTrump
I think if not ended, self employment tax should be reduced to just the “employee portion” of 7.65%. I am a CPA and I have seen that many small business owners cannot afford the full 15.3% self employment tax on top of their federal and state income tax.
Many of them fall behind and owe the IRS back taxes because they can’t afford their living expenses/a roof over their heads and the hefty self employment tax. I get that they are their own employer but they are being buried in taxes by working for themselves. They should be allowed a reduction in this tax.