"Only the profit... will be taxed"

[handmade34]

President Obama's tax plan will NOT hurt small business

http://www.enotes.com/taxes-reference/small-business-tax


Business Income

It is particularly important to owners and investors of businesses that the return of a capital investment is not taxed as income. If a business owner sells a business or an asset and receives money for the asset, the business has not earned any TAXABLE INCOME.

Only the profit, if there is any, will be taxed.

Small Business Tax Deductions

Business owner/taxpayers can deduct most of what they spend in the course of conducting their businesses which makes an enormous difference in their final tax bills.

When business owners calculating their business's expenses, they need to keep these 13 business deductions in mind:

Advertising and Promotion: Auto Expenses: Bad Debts: Business Entertaining: Business Start-up Expenses: Charitable Contributions:
Computer Software: Education Costs: Interest: Moving Expenses: Taxes: Travel: Current Expenses: Capitalized Expenses: Depreciation or Amortization of Expenses

[guardian]

1. Depreciation recapture?

Is depreciation recapture being eliminated?

[handmade34]

2. don't know all tax laws

but I know enough to know that the argument (that Republicans are using) against eliminating the tax cuts is bullshit!