[quote]H factor wrote:
Oh I thought you made money off the tax code or something some way is what you were driving at and were fearful Obama might do something about the part that effects you. I thought it was something specific along those lines.
[/quote]
Nope. I have full faith the tax code will grow ever more complex under any type of president that doesn’t outright declare himself a dictator. So I have faith people will always pay me to read the instructions and think creatively.[/quote]
Lol I had a prof who always said “Remember accounting is an art not a science.”
People in the class were saying I chose accounting because I am not creative and I always liked numbers and the prof responded “Accountants are some of the most creative people I know.”
[quote]H factor wrote:
Oh I thought you made money off the tax code or something some way is what you were driving at and were fearful Obama might do something about the part that effects you. I thought it was something specific along those lines.
[/quote]
Nope. I have full faith the tax code will grow ever more complex under any type of president that doesn’t outright declare himself a dictator. So I have faith people will always pay me to read the instructions and think creatively.[/quote]
Lol I had a prof who always said “Remember accounting is an art not a science.”
People in the class were saying I chose accounting because I am not creative and I always liked numbers and the prof responded “Accountants are some of the most creative people I know.”[/quote]
Well, we aren’t all creative, which is good. The creative ones need people who aren’t creative to actually tick and tie all the numbers.
The media loves talking points like “Exxon paid 0 dollars in taxes” etc, and people latch on to that emotionally, without realizing, as Beans said, there is Financial Statement income, cash flow income, and income statement income.
Certain tax laws are structured as such (depreciation, for example) to encourage depreciating/writing off PPE and purchasing new PPE. This would affect the tax bill.
An example that breaches the gap between the everyday Joe and corporations is rental property. The way tax codes for rental property are structured allow for generous deductions because someone is providing a social good (housing for the populace).