11-23-2020, 01:02 PM
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Down Boy!
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Join Date: May 2013
Location: Southern Nevada
Gender: 
Posts: 13,716
Thanks: 7,377
Thanked 7,100 Times in 4,788 Posts
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Re: Business Tax Based on Comparison of Top Executive's Pay to Employees’ Pay
Quote:
Originally Posted by FrancSevin
In my case, if such taxes were invoked, I would have to get a raise to qualify.
Most small business have owners who take from the business, only what they need. I operated in that mode for over 35 years of miserliness, and finally have the success that would allow me to take a large salary. I don't. Far too many younger families depend on our business to meet their dreams.
I'm not special. Contrary to public opinion, it is how many, if not most, businesses operate and thrive. Companies, like GM, who don't,,,, get taxpayer funded bailouts from the Gubmit.
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I run my business like you. I have always taken a modest salary, and left the rest in our company money market, from which we paid bonuses and used as working capital. If I had taken everything out of the business and pretended that I was some wealthy upper crust type, I would have went bankrupt during that last recession. I have taken disbursements, but only in good times, and only after bonuses were given to my great employees.
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