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View Diary: Joe The Plumber Admits He Wasn't Undecided After All (586 comments)

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  •  It all depends on the type (1+ / 0-)
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    Mother of Zeus

    of "corporation". C corps are taxed as entities but S corps, LLC's and sole props have profits and losses flow through to the shareholders with no tax generally at the corporate level. A typical small business will usually not be a C-corp. However, owners who actually work for a flow through type of company can't just take zero income in wages and have the resulting profits in the form of a dividend flow through to their personal taxes - the IRS will claim that's a Social Security tax dodge.

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