Quote Originally Posted by IAmKowalski
Well yea... the question has already been found invalid. And you're right, whether Joe claimed $250k or not doesn't make it valid :-)
It's not invalid; and I take it you've never run a business by your previous posts about gross income vs net income.

you are partially right; but it's something you have to experience as a business owner to really understand how that effects you and what the real figures look like.

edit: I should elaborate.. Many small businesses these days are service oriented. In a service oriented business; which many are, where you don't have an inventory.. where you may not have a large office space.. where you might not have the same deductions as say a grocery store or a product based business.... You will take the hardest hit. Because the difference between Gross income vs Net income is not huge..

Even people who are independant contractor based employees and pay their own taxes can attest to this.