663: Biden promises to tax the rich: not usually a winning trope. @genemarks @Guardian #SmallBusinessAmerica;
Image: The election laws of the state of Ohio and of the United States of America so far as they relate to the conduct of elections and the duties of officers in connection therewith Gene Marks, @genemarks @Guardian #SmallBusinessAmerica; Philadelphia Inquirer, and at TheHill; in re: A lot of business owners fear that a Biden victory would shut their business down, notably in Miami, for starts. Biden promises to tax the rich: $400,000 and up. The average small-bz owner earns $50-75,000, but with all family members earning from the company, can go over $400,000. Also, FICA/payroll taxes kick in over $400K. They see a higher-taxation environment, and they don't like it. We haven’t even mentioned labor, health care, and the rest. Business owners all spoke only of policy, policy, policy. Payroll Protection Program—should PPP be repaid? Regardless of who wins, there will be another round of stimulus. Hold off on claims for forgiveness just now; bankers are still figuring it out. Talk to your tax accountant now!