6 ms·
I'm not so sure this is true. For any startup founders here, some questions: 1. How much time did you spend incorporating your business? 2. How much time do y
by cyrus_ 16y ago
I'm not so sure this is true. For any startup founders here, some questions:
1. How much time did you spend incorporating your business?
2. How much time do you spend per year filing your income taxes, or do you hire an accountant?
3. If the latter, how many billable hours do they put into it? Was this a major expense for your business?
There may be a huge step function if they somehow simplify the tax code such that small and medium business owners can do it themselves in a day rather than having to hire an accountant, but anything short of a major overhaul will leave people in roughly the same position I think.
- dantheman 16y agoLook at the entire tax infrastructure - H&R Block and all those accountants basically doing a make work job, that could be eliminated by simplifying the tax structure.
- eli 16y agoErr, I don't think the H&R Block lobby is conspiring with legislators to keep taxes complicated. The tax code is complicated because it's layer upon layer of incentives and disincentives and hacks and amendments and loopholes and counter-loopholes built up over decades. It evolved into its current state, it wasn't built this way.
- brown 16y agoMaybe not H&R Block, but Intuit (TurboTax) sure does... Why Can’t the I.R.S. Help Fill in the Blanks? http://www.nytimes.com/2010/01/24/business/24digi.html?_r=1 http://www.nytimes.com/2010/01/24/business/24digi.html?_r=1 Intuit's end-run http://articles.latimes.com/2010/jul/21/opinion/la-oe-ventry-intuit-20100721 http://articles.latimes.com/2010/jul/21/opinion/la-oe-ventry...