The Federal Tax System burden on Small Business Self Employed is Insufferable

well on the flip side we pay substantially less overall vs regular corporate types with no deductions on their income. I dont know about you but I make alot of money and via alot of tax breaks and loopholes i am taxed on significantly less. So no complaints from me. A CPA should be on your payroll anyways, I have a great guy who charges me $150/mo per location and handles 5 businesses books and payrolls thats a steal to me.

Small businesses should be the largest proponent of the 15% pass through provision in Mr. Trump's plan.

We'd still be well below what the rate for Bank of America is.

The issue with the flat taxes proposed is very few define what taxable income is. Uncertainty is not good. What if you're 3 years into a 27.5 year depreciation schedule, and all of the sudden flat tax?

While I could support a flat tax, questions like the one above would need to be clarified first.

Trump's 15% pass through for LLC's S-Corps and Sole Proprietors? Pretty easy to understand. Income that passes through to your personal return is at 15%.

I believe a huge job creator. And I think I'd add one new salesperson, and one new support staff if this happened.

Now this post is political, but tax policy is also somewhat political. The flat tax probably has zero chance of passing both the House and Senate. Portions of Trump's plan could get through with bipartisan support.

Some chance is better than no chance in my small world.

To the OP's point, the lost productivity due to tax planning, and record keeping is enormous. Nationwide the costs has to be measured in billions. And it makes planning really difficult, even if you use a CPA. It's tough enough when I routinely project 10% growth, and it's extremely difficult to plan if I grow 30%. I have to leave cash sitting around until I know what I owe. I have to leave operating capital in my business, and I pay tax on this, whether I take it out or not. I can't make a decision on how much might be left over for capital expenditures, adding employment, almost anything. Not easily anyway.

And it seems like in the middle of something that is already difficult, but many of us do successfully year in and year out, here come the DOL, the DOJ, the EPA, The Fed and various other alphabet government agencies to make it even more difficult.

From January to April I have an estimate of what I'll owe. I find out after the last 1099's pour in on the deadline day. And then from April until June or July, I'm broke.

In this order. Property taxes, both commercial a foand residential, SIMD surcharge on property taxes, Federal income taxes, and then state income taxes. And in the middle here come the University of Iowa asking for a football donation and money for season tickets.

It is truly incredible that anyone has enough energy, or money, to fund the government the way they all come asking at once. They are clueless, and they exist becuase of every American taxpayer, whom they routinely disrespect. They are arrogant in their entitlement, and in their bloated salaries, and benefit packages that few of us get, and fewer can afford to give to our employees. Our employees being merely unimportant other taxpayers.