TAX CODE REFORM FOR HALLOWEEN
October 30, 2017 - Douglas Myser
Tax code reform for halloween. Tax reform. Not just for the 1%, but for the real drivers of economic growth, small business owners. To do that, President Trump will have to compromise. Tax code reform for halloween.
If a lesson exist from the first nine months of a tumultuous start to say "That going to help us in the future." Small business owners are the real drivers of the economy, and they should be the main beneficiaries of this tax code reform attempt. To many have been calling us up with massive tax debts, asking about the IRS Fresh Start Program.
If tax relief is needed, then the pie should be distributed with some sort of semblance of fairness, otherwise it will bring about the divided government, full of insults, and political cajoling. Tax reform isn't easy, but the benefits to our economy can't be ignored. If true tax code reform is what you want, be fair about it and don't make it so lopsided that it has no chance to pass. Compromise. If we see that out of this administration and Congress it would be a departure from what has happened over the last several years in Washington. Maybe then less business owners would be in need of Tax Resolution.
The tax code should be a permanent fixture also. We should not have temporary tax cuts, that expire and cause us to re-visit the issue over, and cause tax preparers to go back and relearn the new code, just a few years down the line. Longer term planning is much easier to business owners, and those making investments, if the tax code reform is made permanent.
It would be nice to give a tax break sufficient to jump start the economy, without bloating the deficit, but tax reform usually causes one or the other. In this case, it seems alot of people are tired with subpar growth, and think significant tax reform is worth the risk of larger deficits, if it brings higher growth rates.