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That's crazy. So are small businesses expected to take out a loan to pre-pay taxes?
by Cyph0n 9y ago
That's crazy. So are small businesses expected to take out a loan to pre-pay taxes?
- StavrosK 9y agoI guess they're expected to go bust, really. Who knows, the small (and large, really) business sector is completely ruined, the market has been crippled by these tax changes. The tax code gets a large overhaul every year, which instills great uncertainty to anyone thinking of starting a business, and many taxes are retroactive. For example, I've had to pay taxes for funds that were formed in 2016, but the tax starts in 2013, which means that if you completely paid all your taxes for 2015, in 2016 you suddenly owe three years of a tax that was voted in just that year.