Tuesday, March 13, 2012

Been pondering the US Income Tax Code from the perspective of an entrepreneur who works from his home in the bosom of suburbia.  We just visited the tax accountant and of course, despite having a wonderfully organized (seriously) packet, we still were missing some forms and documents. 

How does one become a success as a start up entrepreneur (some also would call us "job creator") when the whole system really favors those who work in large companies with all tax and insurance withdrawals done automatically, medical coverage, and bonus payouts taxed and documented correctly.    Makes my head hurt just trying to figure out how much I need to earn per year to get to a target income needed to pay our bills, son's tuition, maybe a simple vacation, and save for retirement.  I want to focus on building a business, not the wallet of the tax accountant (even though she is a really highly competent and likable person).

When they get around to putting me in charge of the world, I will find a way to fix this.  But for now, I will just find the correct papers, go to the correct web sites and meander my way back to giving away large amounts of my hard earned $ to a system not really understandable, stacked against those who earn their income (vs capital gains such as in venture capitalist wallets) and more likely to more complex than to get easier and more transparent.

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