Re:How to Jumpstart the Economy - Tax Free Small Businesses
by swombat on Monday July 28, 2008 @02:06PM
(#259358)
True, but the simplest way to do that is to get rid of the damn things altogether.
I think 25 is a bit high of a cut-off point, but at least 5-people businesses should escape somehow...
Re:How to Jumpstart the Economy - Tax Free Small Businesses
by wheels on Monday July 28, 2008 @02:20PM
(#259378)
There'd have to be more metrics than that, but again, I don't think it's paying that worries people. Most startups with a good accountant won't pay much in taxes initially, but maybe if you set something like:
If you are not a subsidiary of another company, have got under 5 employees, under $50k in the bank and under $200k in annual revenues, you have the option just paying $1000 in taxes for up to two years.
Basically a 1040 EZ for small businesses. I bet people would jump all over it to just have it done without worrying.
Re:How to Jumpstart the Economy - Tax Free Small Businesses
by jraines on Monday July 28, 2008 @03:03PM
(#259454)
How many employees does Berkshire Hathaway have again? Something like 12 at HQ, I think. That would be a lot of tax revenue to disappear.
Re:How to Jumpstart the Economy - Tax Free Small Businesses
by anamax on Tuesday July 29, 2008 @01:36PM
(#260825)
> How many employees does Berkshire Hathaway have again? Something like 12 at HQ, I think. That would be a lot of tax revenue to disappear.
How much does BH currently pay in taxes?
I note that Buffet's estate will go largely untaxed, so it's no skin off his back to argue that for estate taxes.
I don't think new business are worried about paying taxes, they're worried about dealing with them period. Making taxes trivial to deal with up to a certain point would be much more of a jump-starter.