i think im getting bent over...tax question

[Storamin]

@wrayzor

when you own your own business dont you have to pay taxes like twice, so to speak. I remember learning in a highschool accounting class that business’s have to pay just as much taxes as you do on top of what you pay. And if you own your own business you have to pick up the tab for both of those since you are the employee and the owner at the same time???

that’s what happens with a corporation and paying out dividends. the income is taxed when the corporation reports their net income, and then the dividends are taxed when the person who receives the dividends files their taxes.

a sole propreitorship is different.