A central debate in the fiscal cliff talks is over how much higher income taxes will hit small...

|By:, SA News Editor

A central debate in the fiscal cliff talks is over how much higher income taxes will hit small businesses, which pay the individual rate via their owners' returns. A study last year found that tax hikes for incomes of over $500K - Obama's threshold is $400K - could hit 750K firms that receive about 56% of all income of such businesses. John Boehner's $1M threshold could hit 311K companies that account for 41% of income.