Why new tax policies will be bad for small business

10/28/2010 | Fox Business

New and proposed tax policies will hurt the 75% of U.S. businesses that the National Federation of Independent Business says are organized as pass-through entities. Businesses such as S corporations, limited liability corporations and sole proprietorships -- in which the owners report profits and losses on their own tax returns -- could be affected by the expiration of Bush-era tax cuts as well as cap-and-trade legislation and health-care reform. This article profiles a restaurant owner who says his salary is $82,500 and has been since 1986. The income on his tax return represents "the productivity of a lot of companies and capital investment," he says.

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