Posted by Germ on October 24, 2008 at 13:39:38 from (64.12.117.74):
In Reply to: OT . Cost of business posted by Bryan in Iowa on October 24, 2008 at 11:24:11:
It depends on the type of tax. If it a tax on profit, a good CPA will help minimize the burden. Tax on profit is a tax that is nice to have because it means you have done well managing your business, it's still frustrating because you hate to give up your hard earned money.
An increase in payroll tax, licenses/ fees and other somewhat hidden taxes are another story. Your competitors will have the same increases, which helps keep the playing field level. You can cut any excess overhead, increase productivity, increase pricing, or fold. If your overhead is already lean, pricing or productivity (better systems, equipment, training, or sometimes replacing your less productive employees) has to increase accordingly. Sometimes a combination of the above must be done. One other option is to sell harder to spread your fixed costs over more gross sales (diluting the overhead).
One other tax that has been mentioned in this campaign. There was talk of cutting capital gains tax in the answer to Joe the Plumber. In that example, Joe was told if he increased his sales from $250,000 to I think it was $500,000, one candidate was going to cut captial gains tax. Capital gains would not really be relevant in that discussion unless Joe was going to sell the business, or sell some assets that the business had accumulated, for more that his cost of aquiring the assests, minus his depreciation. The candidate tried to pull a fast one on Joe.
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