Friday, July 3, 2009

The taxman

I just hung up with our accountant; the tax conversation was short and sweet. As always, before settling our corporate obligations, I would make a final run through of our income statement and compare notes with her. She suggested that we look for further adjustments inasmuch as we worked hard. As if we were making tons.

It is not our intent to cheat the taxman. Cheating is when you break the law. We are merely exercising the legal options available to us and taking advantage of the perks offered to corporate entities. Who am I to complain? I am nice, but I am not stupid.

It may be unknown to a lot of individuals on a paycheck that, at the end of the day, they are actually paying more taxes. Start with the income tax withheld even before you get hold of your money. Work overtime and you get taxed harder. Spend or stash your funds in the bank, either way, the taxman gets a cut straight away. On the other hand, corporations have the luxury of maximizing revenue through tax remedies. Talk about leniency.

I agree, the system could be a lot fairer, but who drafted it? Your guess is just as good as mine.


josie said...

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Prodigal Son 35 said...

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