URL TO ARTICLE:
http://www.nytimes.com/2012/02/12/business/yourtaxes/entrepreneurs-face-mounds-of-tax-paperwork.html?_r=1&adxnnl=1&ref=smallbusiness&adxnnlx=1333685970-s9cP8d6sN/lf+ySuhbOnug
Overall the article is about the great amount of taxes being put on new small buisness owners. It is a concern because the taxes are coming as the buisness opens so if youre not prepared with a good accountant and the right finnancial income; it is very easy to go into debt. The question I would like to ask you is what challanges do all these taxes bring upon new small buisness owners, and do you think the buisnesses should be given all these taxes so quickly?
when a business is taxed it cannot be as free with its money as it would like to because it has to set aside more money to pay taxes with and i feel that the government should wait until a business is more up and running to put a tax on it
ReplyDeleteThe challenges that come upon the new small buisness owners is that they have to be ready for all the money they will have to pay inculding all the taxes. They may run out of money because they dont have enough since they just started the buisness. I dont think that they should be taxed. I agree with pat they should wait till they are up and running to see if they can make enough money and if it is sucessful.
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ReplyDeleteThe challenges that these small business owners are facing is a possibility to go into debt after first starting their business. I don't think they should be taxed so quickly.
ReplyDeleteThe problem that most entrepeneurs find themselves running into would the vast amaount of taxes thrown at them, and this problem would be due to the fact that they don't add taxes into the plan when opening their businesses. Like the article said these business owners just rush into everything and seem to leave taxes out of the picture, but its the biggest part of the picture that they're leaving out. I also totally agree with pat, these new businesses should only be taxed when they are up and are able to fend to fend for themselves. I think this is so because its not only bad for these new entrepenuers to be failing but for our economy too. Also like Roosevelt said in his speech when small businesses fail big businesses do too, so taxing them early just hurts everyone.
ReplyDeleteI think that when they first start there business they should not be taxed for a while until a certain amount of time so that they are able to collect some income from there business to be ready to start paying there taxes. Also because they are aproached with these taxes so soon they have a hard time paying them and the business ends up failing.
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