Quote:
Originally Posted by saden1
What I do know for a fact is that small business have gotten huge tax breaks thanks to the stimulus. You some how dispute this is the case even though you don't have the exact reason why he's getting more of his money back. We can both assume but only one guy can tell us which who is right. So lets have it firstdown...why did you get a bigger return?
If I had to bet, I would bet on saden1.
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OK I talked to my CPA today and I asked her why I received such a large tax return. She said I had less income this year. I then ask her directly if Obama gave me any tax breaks to increase my return and her answer was "hell no". She did say that I received the working man tax stimulus/refund of $800 which is something Obama gave to just about anyone working. I then asked about Obama's tax break for small business and she said that the only tax breaks is for purchasing new equipment of a certain value. So I'd have to say both of you are somewhat right. The reason I did not think about a drop in income is because I forgot about rent I receive as income which was down this year.
Saden what I have in bold from your post is not really correct unless a bunch of small businesses have found money to go out and buy new equipment in this economy.