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Do you think that the Trump Tax plan will help the middle class?

Yes
No
I have no idea



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1. Thomas C CEOExpressSelect Member
     (11/22/2017 2:51:57 PM)
     Message ID #294119

This message is in response to M Bathurst ( message id #294110 )  Back To All Messages

All great points. Mr.B!

Long ago the tax code became way too complex for the average taxpayer. It was built gradually via donors, and is not anything similar to 1986.

Business wise 1986 was the era when we switched to an IBM double floppy, from an NCR bookkeeping machine. We had certified financials. with an audit. Our CPA was mainly an advisor with a pile of "work papers".

Fast forward to 2017, like most small business we use Sage, a sophisticated version of Quick Books. Where you can move back and forth correcting entries, no more green bar and reversing entries, and an audit trail.

Our bank doesn't require Certified Statements. A first year accounting student can do our closing entries. Very efficient. But our accounting fees have soared due to tax forms. Combined with reporting to Commerce, Labor and State, has created a nightmare for small business.

If these Bills alter the compliance, I'm all in. No offense to the tax-prep world but it's an expense we can no longer afford in today's marketplace. Given the fact that my competitors are teenagers who live in a factory that operates 24/6 in mainland China.

I read all the pundits, including Krugman. all people who have never had to sweat out a payroll. They are clueless.
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