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>A recent college-graduate with fat student loans should nevertheless be able to comfortably create a home business in the evenings and weekends. Or perhaps bet
by saym 14y ago
>A recent college-graduate with fat student loans should nevertheless be able to comfortably create a home business in the evenings and weekends. Or perhaps better yet, a high-school graduate should be able to do so while learning college-level material online.
This strikes home. This nation is separate from any other because of the entrepreneurial spirit that we foster. Perhaps there should be better tax incentives for first-time business owners.
- lsc 14y agowe don't need incentives, we need less complexity. I'm running a business 'cause I know a lot about and am interested in SysAdmining. I don't run a business because I enjoy spending all day trying to figure tax loopholes and how they effect my business. Not only that, aside from student loans, screwing my taxes is the only way I can get myself into debt that I can't get out of through bankruptcy. Adding complexity to the tax code makes it much more likely I'm going to screw it up. It vastly increases the amount of risk I have to take to start up a small business. When you are ultra-small, while you are working part time? you often pay more (in terms of your own time, or in terms of money paid to bookkeepers/accountants) in managing your accounts than you pay in taxes. I guarantee you spend more money on bookkeepers/accountants than the piddly $500 a year or what have you for limited liability (which doesn't by the way, limit your liability for the thing that is probably most likely to bite you, screwing up your taxes.)