...

 BK>>  The man claims he is trying to buy out the plumbing business he
 BK>>  works for, and worries about having his taxes raised if he makes
 BK>>  more than $250K/yr? That is not only relevant, but is the heart
 BK>>  of the issue. He isn't qualified as a plumber, he couldn't
 BK>>  legally run the business if he could buy it, which he can't
 BK>>  because it's not for sale, and he wouldn't make $250K/yr if he
 BK>>  did buy it.

 JM> A small business owner may not make 250K but it is very 
 JM> likely to have a  GROSS income of more that 250K reported 
 JM> on their 1040. 

 You dont' get taxed on your GROSS income, but on your taxable
 income.

 And if it's incorporated, that goes into a whole nother set of
 accounting rules.


BOB KLAHN bob.klahn{at}sev.org   http://home.toltbbs.com/bobklahn

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