Entrepreneurs are constantly thinking about solutions to access capital and overhauling the tax code to make it simpler would help start-up companies attract capital and grow.
Lets face it young people are starting companies daily which revitalizes communities, creates new jobs, creates high paying jobs in their hometowns and they need support. They need a simplified tax code and access to capital.
Although I do not specifically endorse President Trump’s new tax overhaul plan unveiled last week, I clearly support the concept of making the code simpler. From my reading of President Trump’s plan is it would scrap scores of deductions as part of a plan to reduce overall income tax rates on corporations and individuals.
Entrepreneurs and business owners rarely think or plan around tax reform. But they do wake up in the morning and think about access to capital, and access to capital does have a lot to do with a simplified tax code.
These days obtaining capital and/or credit comes with many hurdles and the diligence is extremely difficult and time consuming so any news of a simpler way to handle taxes and reduce them comes as relief and will result in more growth and jobs.