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Online cash advances for High-Income Small Businesses
Small businesses doing financially well are the businesses looking for online cash advance funding. Normally businesses earning over $250,000 annually are considered successful. In any other economy, those are the businesses that wouldn’t need additional monies to function. However, with the recession weighing heavily on the market and the government’s tax hike to those in higher income ranges, these are exactly the businesses suffering.
How income-earning small businesses are having trouble online cash advance
Gail Johnson owns a chain of preschools and after-school programs that offer parents child-care services. Her business model in particular caters to sick children, whose parents normally would have to stay home from work to care for them. For the past 20 years her business has flourished and has built up an average revenue of $500,000. This is well over Obama’s tax promise to Americans who fall under the $250,000 tax bracket. Johnson is finding herself in a precarious situation. She has a great income, but taxes are threatening her businesses’ revenue online cash advance.
President Obama promised to not increase taxes for Americans making less than $250,000. Although this is good news to the average taxpayer, some higher-income families are financially hurting. With the majority of taxpayers making well under that amount, that leaves two primary sources for US funding: high-earning taxpayers and businesses. Johnson is potentially seeing her taxes increase by 20% this year under the new tax laws.
The future for high-earning businesses and taxpayers online cash advance
The future isn’t looking bright for high-earning businesses or taxpayers. Obama is proposing an additional $1.3 trillion in taxes for these tax brackets over the next ten years. The additional funding is needed to fuel his social program improvement such as health care and education. Many businesses are bracing themselves for continued taxation. Chief lobbyist for the Chamber of Commerce, R. Bruce Josten says, “They’re desperate for revenue. And therein lies the concern of the broader business community. We are going to be a permanent target.”
Critics of the taxation laws online cash advance
With high-earning businesses falling under a high taxation rule, many people are looking to online cash advances and supplemental funding as a way out. Critics say this is proof that tax laws need to be revised. Republicans are arguing that the high-earning businesses are the very ones that are most able to create jobs for unemployed Americans. If they are taxed heavily, this could take away funds that were meant to bring much-needed jobs to the marketplace.
There are supporters however
There are some businesses that don’t mind the additional taxation. Marc Friedman, owner of a chain of Ace Hardware stores, says he doesn’t have a problem with the tax laws, even though he stands to pay a substantial larger amount of money to the government. He says, “The small-business community feels there’s a disproportionate amount of tax placed on us, and it’s true…but [government services] can’t be paid for equally by everyone. It’s a big burden, but we’re fortunate to be successful.”
Hope for small businesses online cash advance
There is hope for high-earning small businesses though. With a good record of revenue, many of these businesses are in prime positions for gaining funding through bank loans, online cash advances and additional sources of funding. They may have to suffer through additional taxes, but in the end once the banking industry balances itself out, they will be the ones benefiting with more financial options to fuel future growth.
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