Personally, I think deductions allowed over a certain level of gross profit should be discounted completely. If you're making over $10 million in profits...too bad so sad...cough up that 28%. Unless we close ALL the loopholes, creative accounting will continue to use them. I believe this is the #1 reason so many small businesses never make it. A complete rewrite of our Tax Code needs to be done.
Personally, I think deductions allowed over a certain level of gross profit should be discounted completely. If you're making over $10 million in profits...too bad so sad...cough up that 28%. Unless we close ALL the loopholes, creative accounting will continue to use them. I believe this is the #1 reason so many small businesses never make it. A complete rewrite of our Tax Code needs to be done.
Yes.
Thank you.