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> Small businesses make a lot of financial mistakes: commingling business and personal funds, not reporting taxes, not paying taxes, breaking a variety of labor
by jesterson 4y ago
> Small businesses make a lot of financial mistakes: commingling business and personal funds, not reporting taxes, not paying taxes, breaking a variety of labor-related rules, etc.
Perhaps I wouldn't call those a "mistake" or attribute it solely to small businesses. Large corporations do exactly that - and easily getting away with it due to multitude of reasons.
- tpetry 4y ago> Large corporations do exactly that - and easily getting away with it due to multitude of reasons. Large corporations don't pay taxes because of taxation tricks. These small business don't pay taxes because they never fill a tax report.
- ozim 4y agoIt is also a lot easier for tax authorities to target large corporations than dig into pile of small businesses.
- majewsky 4y agoLarge corporations have thousands of people working on the balance sheets, though, therefore the balance sheets are much more inscrutable than those of your cookie-cutter barbershop or restaurant business.
- pwinnski 4y agoAt least in the US, the opposite is true. The IRS targets small businesses rather than large corporations because the small business are easier targets, while the large corporations have lawyers who fight on every point.
- jesterson 4y agoAnd? What's the point of your comment?