Go Back   Club Cobra > Manufacturers, Engine Builders, tools, and parts. > Kirkham Motorsports

Welcome to Club Cobra!  The World's largest non biased Shelby Cobra related site!

  •  » Representation from nearly all Cobra/Daytona/GT40 manufacturers
  •  » Help from all over the world for your questions
  •  » Build logs for you and all members
  •  » Blogs
  •  » Image Gallery
  •  » Many thousands of members and nearly 1 million posts! 

YES! I want to register an account for free right now!  p.s.: For registered members this ad will NOT show

MMG Superformance
Nevada Classics
MMG Superformance
Main Menu
Nevada Classics
Nevada Classics
MMG Superformance
MMG Superformance
Advertise at CC
Banner Ad Rates
MMG Superformance
Keith Craft Racing
MMG Superformance
MMG Superformance
December 2024
S M T W T F S
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30 31        

Kirkham Motorsports

Reply
 
LinkBack Thread Tools Display Modes
  #1 (permalink)  
Old 06-23-2011, 10:40 PM
David Kirkham's Avatar
CC Member
Visit my Photo Gallery
Original Shelby Owner


 
Join Date: Mar 2001
Location: Provo, Ut
Cobra Make, Engine: Kirkham, 427
Posts: 6,990
Not Ranked     
Default David Kirkham Testify Before The Senate Finance Committee

Guys,

I have been invited to testify before the Senate Finance Committee next Tuesday in Washington DC on “Complexity and the Tax Gap: Making Tax Compliance Easier and Collecting What’s Due.”

They asked me to testify from the point of view of a small business owner.

Any suggestions you all have would be greatly appreciated.

David
__________________
David Kirkham, President Kirkham Motorsports
Manufacturer Aluminum Body Kit Cars and supplier to Shelby* for their CSX4000, CSX7000, and CSX8000 289 and 427 Cobra
*Kirkham Motorsports is not affiliated with Ford or Carroll Shelby or any of their trademarks.
"Fear is the thief of dreams."

Last edited by David Kirkham; 06-23-2011 at 11:16 PM..
Reply With Quote
  #2 (permalink)  
Old 06-23-2011, 10:54 PM
Dimis's Avatar
CC Member
Visit my Photo Gallery

 
Join Date: Apr 2008
Location: Melbourne, Vic
Cobra Make, Engine: Some polish thing... With some old engine
Posts: 2,286
Not Ranked     
Default

Congrats David,

I wish you the best of luck with it.


Anth
Reply With Quote
  #3 (permalink)  
Old 06-23-2011, 10:57 PM
Senior Club Cobra Member
Visit my Photo Gallery

 
Join Date: Jun 2007
Location: Friant, ca
Cobra Make, Engine:
Posts: 106
Not Ranked     
Default

David
I pray that, with the current political and fiscal disconnect between our congressional bureaucracy and the true working class, they are not wasting your time.
Proud to have you speak on my behalf.

brobehr
Reply With Quote
  #4 (permalink)  
Old 06-23-2011, 11:03 PM
4pipes's Avatar
Senior Club Cobra Member
Visit my Photo Gallery

 
Join Date: Jan 2005
Location: saratoga, ca
Cobra Make, Engine: Kirkham #185, Shelby Alloy 482; sold
Posts: 1,190
Not Ranked     
Default

Quote:
Originally Posted by David Kirkham View Post
Guys,

I have been invited to testify before the Senate Finance Committee next Tuesday in Washington DC on “Complexity and the Tax Gap: Making Tax Compliance Easier and Collecting What’s Due.”

They asked me to testify from the point of view of a small business owner.

Any suggestion you all have would be greatly appreciated.

David
The tax calculation should be forced to fit on a single 8x11 page and can be completed without professional help in a couple of hours by anyone.
__________________
Dave
Reply With Quote
  #5 (permalink)  
Old 06-23-2011, 11:12 PM
David Kirkham's Avatar
CC Member
Visit my Photo Gallery
Original Shelby Owner


 
Join Date: Mar 2001
Location: Provo, Ut
Cobra Make, Engine: Kirkham, 427
Posts: 6,990
Not Ranked     
Default

Quote:
Originally Posted by Dimis View Post
Congrats David,

I wish you the best of luck with it.


Anth
Quote:
Originally Posted by brobehr View Post
David
I pray that, with the current political and fiscal disconnect between our congressional bureaucracy and the true working class, they are not wasting your time.
Proud to have you speak on my behalf.

brobehr
Thank you so very much. I will do my best.

David
__________________
David Kirkham, President Kirkham Motorsports
Manufacturer Aluminum Body Kit Cars and supplier to Shelby* for their CSX4000, CSX7000, and CSX8000 289 and 427 Cobra
*Kirkham Motorsports is not affiliated with Ford or Carroll Shelby or any of their trademarks.
"Fear is the thief of dreams."
Reply With Quote
  #6 (permalink)  
Old 06-23-2011, 11:16 PM
David Kirkham's Avatar
CC Member
Visit my Photo Gallery
Original Shelby Owner


 
Join Date: Mar 2001
Location: Provo, Ut
Cobra Make, Engine: Kirkham, 427
Posts: 6,990
Not Ranked     
Default

Quote:
Originally Posted by 4pipes View Post
The tax calculation should be forced to fit on a single 8x11 page and can be completed without professional help in a couple of hours by anyone.
Thank you. I will certainly tell them the complexity is costing jobs.

Moderators,

I know this is a Cobra site but I truly want to hear what everyone has to say as many people on this site are small business owners or work for small businesses.

Guys,

Let's please keep the rhetoric to a minimum and come up with solutions--not flames.

David
__________________
David Kirkham, President Kirkham Motorsports
Manufacturer Aluminum Body Kit Cars and supplier to Shelby* for their CSX4000, CSX7000, and CSX8000 289 and 427 Cobra
*Kirkham Motorsports is not affiliated with Ford or Carroll Shelby or any of their trademarks.
"Fear is the thief of dreams."
Reply With Quote
  #7 (permalink)  
Old 06-23-2011, 11:22 PM
CC Member
Visit my Photo Gallery

 
Join Date: May 2010
Location: Houston, tx
Cobra Make, Engine: 2004 Kirkham 427 S/C, Shelby 496C.I.
Posts: 322
Not Ranked     
Default

There's the best idea overall. As another small business owner, the current filing requirements are ridiculous! Just make it a flat tax and it would be a whole lot easier.

The problem comes in that it would put a lot of folks out of work (government and private sector) and they can't have that.

Quote:
Originally Posted by 4pipes View Post
The tax calculation should be forced to fit on a single 8x11 page and can be completed without professional help in a couple of hours by anyone.
So simple a caveman could do it?? (the tax form)
Reply With Quote
  #8 (permalink)  
Old 06-23-2011, 11:46 PM
eschaider's Avatar
CC Member
Visit my Photo Gallery

 
Join Date: Feb 2006
Location: Gilroy, CA
Cobra Make, Engine: SPF 2291, Whipple Blown & Injected 4V ModMotor
Posts: 2,726
Not Ranked     
Default

David,

While I recognize this as an old saw I would really appreciate it if they;

1.) Kept their regulatory nose(s) out of our business
i.e. Health Insurance, EPA, OSHA, for starters
2.) Reduced the level of taxation. Less tax means more money to invest in expansion (= more jobs)
3.) Expand the section 179 and bonus depreciation to include more things we buy to grow our businesses
4.) Abandon/Revise their anti business mindset that produced ideas like the 1099's that would go to anyone/business we paid $600 to for goods or services.
5.) Go back to being a Federal Government and stop the micromanagement of things they should not be involved in like incandescent vs CFL lighting.
6.) Give us a modicum of visibility and certainty with respect to regulatory change and at the same time certainty with respect to how long it will be effective - at the very least what it is. It's tough to plan when you don't know what the rules will be next year.

Thanks for going to bat bat for us. Hope you get at least a single or double. I'm not kidding myself about home runs with the current crowd we have up there.

Ed
__________________


Help them do what they would have done if they had known what they could do.
Reply With Quote
  #9 (permalink)  
Old 06-23-2011, 11:58 PM
David Kirkham's Avatar
CC Member
Visit my Photo Gallery
Original Shelby Owner


 
Join Date: Mar 2001
Location: Provo, Ut
Cobra Make, Engine: Kirkham, 427
Posts: 6,990
Not Ranked     
Default

Quote:
Originally Posted by Racer_X View Post
There's the best idea overall. As another small business owner, the current filing requirements are ridiculous! Just make it a flat tax and it would be a whole lot easier.

The problem comes in that it would put a lot of folks out of work (government and private sector) and they can't have that.



So simple a caveman could do it?? (the tax form)
Quote:
Originally Posted by eschaider View Post
David,

While I recognize this as an old saw I would really appreciate it if they;

1.) Kept their regulatory nose(s) out of our business
i.e. Health Insurance, EPA, OSHA, for starters
2.) Reduced the level of taxation. Less tax means more money to invest in expansion (= more jobs)
3.) Expand the section 179 and bonus depreciation to include more things we buy to grow our businesses
4.) Abandon/Revise their anti business mindset that produced ideas like the 1099's that would go to anyone/business we paid $600 to for goods or services.
5.) Go back to being a Federal Government and stop the micromanagement of things they should not be involved in like incandescent vs CFL lighting.
6.) Give us a modicum of visibility and certainty with respect to regulatory change and at the same time certainty with respect to how long it will be effective - at the very least what it is. It's tough to plan when you don't know what the rules will be next year.

Thanks for going to bat bat for us. Hope you get at least a single or double. I'm not kidding myself about home runs with the current crowd we have up there.

Ed
Thank you for the suggestions. I sincerely appreciate you guys cheering from the bench. Thanks so much for trusting me to take a few swings.

David
__________________
David Kirkham, President Kirkham Motorsports
Manufacturer Aluminum Body Kit Cars and supplier to Shelby* for their CSX4000, CSX7000, and CSX8000 289 and 427 Cobra
*Kirkham Motorsports is not affiliated with Ford or Carroll Shelby or any of their trademarks.
"Fear is the thief of dreams."
Reply With Quote
  #10 (permalink)  
Old 06-23-2011, 11:58 PM
CC Member
Visit my Photo Gallery

 
Join Date: Jun 2011
Cobra Make, Engine: Superformance 427SC/Roush 427IR
Posts: 58
Not Ranked     
Default

David,

Some good suggestions from the other members on Federal.

While this is a federal tax hearing, I suggest also speaking about state and local tax impact as well as Federal taxes on small businesses. It's not only Federal, but often the large number of state and local taxes that pile on top of Federal taxes that can overwhelm a small business.

I don't know about Uthah, but friends of mine from other states frequently talk about how burdensome and costly. Plus, many of them overlap with Federal taxes.

I can't remember where I read it, but a number of years ago I saw something written from one of our Presidents in the late 1800s or early 1900s, I believe, that prophesized Federal taxes will become small in comparison to state and local taxes.

Good luck on the hearing.

Greg
Reply With Quote
  #11 (permalink)  
Old 06-24-2011, 12:17 AM
HI Cobra's Avatar
Senior Club Cobra Member
Visit my Photo Gallery

 
Join Date: Sep 2002
Location: Montgomery, TX
Cobra Make, Engine: CR 427 S/C, 351W, 5 Sp & KMP142 - 427 SO, 4 Spd
Posts: 2,212
Not Ranked     
Default

Thank you David,

If the federal government would reduce taxes for the small businesses along
with regulations that do nothing except hinder progress, and simplify the tax
filing process - they might be surprised at the rebound of the economy. That
is, if the states wold do the same. i have a small business here in Hawaii that is construction related (fire suppression systems) and unfortunately the
construction business has been in the pits for over two years now. What is
their solution? Build an $8 billion fixed rail 20 miles long that will cost $300M
a year to run. No where for taxes to go but up, with less than 1 million people
to pay for it. Sad thing is, I doubt if 5% will ride it so the traffic problem will
not change.

Best of luck with your input to them - now if only they would listen!
__________________
Flip
Reply With Quote
  #12 (permalink)  
Old 06-24-2011, 12:48 AM
David Kirkham's Avatar
CC Member
Visit my Photo Gallery
Original Shelby Owner


 
Join Date: Mar 2001
Location: Provo, Ut
Cobra Make, Engine: Kirkham, 427
Posts: 6,990
Not Ranked     
Default

Quote:
Originally Posted by grego View Post
David,

Some good suggestions from the other members on Federal.

While this is a federal tax hearing, I suggest also speaking about state and local tax impact as well as Federal taxes on small businesses. It's not only Federal, but often the large number of state and local taxes that pile on top of Federal taxes that can overwhelm a small business.

I don't know about Uthah, but friends of mine from other states frequently talk about how burdensome and costly. Plus, many of them overlap with Federal taxes.

I can't remember where I read it, but a number of years ago I saw something written from one of our Presidents in the late 1800s or early 1900s, I believe, that prophesized Federal taxes will become small in comparison to state and local taxes.

Good luck on the hearing.

Greg
I'm afraid I won't be able to say much about state taxes, but they should remember we have to pay them too as they pass the federal laws.

David
__________________
David Kirkham, President Kirkham Motorsports
Manufacturer Aluminum Body Kit Cars and supplier to Shelby* for their CSX4000, CSX7000, and CSX8000 289 and 427 Cobra
*Kirkham Motorsports is not affiliated with Ford or Carroll Shelby or any of their trademarks.
"Fear is the thief of dreams."
Reply With Quote
  #13 (permalink)  
Old 06-24-2011, 02:02 AM
GT350Mike's Avatar
CC Member
Visit my Photo Gallery

 
Join Date: May 2004
Cobra Make, Engine: CSX6363
Posts: 180
Not Ranked     
Default

I've have had first hand experience dealing with a committee recently and because of my situation, I cannot go into my personal opinion about my involvement, but I will offer a few suggestions to think about:
Know your audience - During our preparation of the upcoming visit, we spent a bit of time digging into their bio's and any pubs that either had been released from their office or articles written about the individuals (and/or their staff). It wasn't long into our presentations that we discovered first-hand that this committee had their own agenda and regardless of the facts that we presented, it was twisted to suit their objective(s). Ray Charles could see that we were used as a pawn used to substantiate their position. At first I took it personal, but realized that I (we) were not one of the "Big Dogs".

Research the current situation - Your invitation is based on the fact that you are actively attempting to make our country better (don't want to say active in politics....that term has a negative cogitation), you are well respected at all levels, and the fact that you are a very successful businessman. Spend time becoming familiar with other industries so you'll have a better understanding of what obstacles other small business sectors are experiencing.

My last comment isn't directly tied to taxation, but I see the greatest threat to businesses (small and large) within the U.S. is the lack of focus to develop newer technologies. Case in point is NASA....they're shutting down the shuttle program and I feel that NASA is "wondering" around without a tangible long-term goal/objects. At the moment, I'm pretty removed from the details of NASA's woes but I used it as one example to demonstrate my point that our country is pouring money into other programs that will not allow the United States to maintain it's number one position as the leader in the development of technology.

You may have already thought of these suggestions but I'm hoping that my comments may spawn other ideas that will be helpful in your preparations. Like others, I will keep you in my prayers!
Reply With Quote
  #14 (permalink)  
Old 06-24-2011, 02:10 AM
David Kirkham's Avatar
CC Member
Visit my Photo Gallery
Original Shelby Owner


 
Join Date: Mar 2001
Location: Provo, Ut
Cobra Make, Engine: Kirkham, 427
Posts: 6,990
Not Ranked     
Default

GT350Mike,

Thank you.

David
__________________
David Kirkham, President Kirkham Motorsports
Manufacturer Aluminum Body Kit Cars and supplier to Shelby* for their CSX4000, CSX7000, and CSX8000 289 and 427 Cobra
*Kirkham Motorsports is not affiliated with Ford or Carroll Shelby or any of their trademarks.
"Fear is the thief of dreams."
Reply With Quote
  #15 (permalink)  
Old 06-24-2011, 03:06 AM
Senior Club Cobra Member
Visit my Photo Gallery

 
Join Date: Feb 2008
Location: Jacksonville, FL
Cobra Make, Engine: VSE alum. frame, FFR carbonfiber body (under construction)
Posts: 293
Not Ranked     
Default

I hope you have an opportunity to point out that any system of taxation that is so complex as to require a paid professional prepare your tax return is.................immoral.
And the excessive cost of compliance totally unproductive.

Good luck,

John

P.S. I like the old Mae West quote:
'JUDGE: Are you trying to show contempt for this court?
MAE WEST: I was doin' my best to hide it.'
Reply With Quote
  #16 (permalink)  
Old 06-24-2011, 05:15 AM
CC Member
Visit my Photo Gallery

 
Join Date: Jul 2010
Location: McMurray, PA
Cobra Make, Engine: Superformance #522
Posts: 528
Not Ranked     
Default

Many business decisions are made based upon advoiding taxes, not what makes the best use of capitol. This process makes US businesses less efficient and less competitive. Flat tax and eliminate loopholes. The federal govt needs to stop using the tax code to buy votes and influence behavior.
Reply With Quote
  #17 (permalink)  
Old 06-24-2011, 05:27 AM
Dominik's Avatar
CC Member
Visit my Photo Gallery

 
Join Date: Jun 2000
Location: Cape Town, South Africa/Mainz, Germany,
Posts: 1,601
Not Ranked     
Default

Apparently in Spain there was or is a tax law for restaurants where the amount of chairs dictated the monthly income tax. I.e. 20 seat = $2.000. Done.
A similar option could apply for cars: x units built per months, $x/y tax to be paid.

If you want to pay less tax, you need to prove why your expenses were higher than average.
__________________
If I don't respond anymore, that's because I can't log in
Reply With Quote
  #18 (permalink)  
Old 06-24-2011, 05:59 AM
CC Member
Visit my Photo Gallery

 
Join Date: Jan 2008
Cobra Make, Engine:
Posts: 773
Not Ranked     
Default

Good luck David.

- Quit trying to manipulate behavior with tax law.
- Make the tax burden proportionally equal.
- Make it that every one pays.
- Place the tax burden on consumption not production.
- Simplify, Simplify, Simplify,
- Eliminate the IRS.
- Implement a national Sales Tax.

Last year between National, Local, State, and Sales taxes I paid 69% of my income in taxes. I understand the current Tax code is 10,000 pages long. A business has to hire professional and expensive accountants to prepare their returns. It's so complicated that no 2 accountants will come up with the same numbers. Returns are prepared in fear or being audited. I recently was audited. It cost me $7,000 to have my accountant work through the audit. In the end it was determined that my return was accurate and I didn't owe anything more. But, the fact that it requires professional and expensive help to defend an audit is just wrong. Legit deductions are not taken for fear of raising the "red flag" that will trigger an audit. Just some of my thoughts.

Thanks, John
Reply With Quote
  #19 (permalink)  
Old 06-24-2011, 06:49 AM
Murky781's Avatar
CC Member
Visit my Photo Gallery

 
Join Date: Apr 2011
Location: Farmington, CT
Cobra Make, Engine: ERA 781, 69' 428CJ, PPG BLACK. ERA 3005 Arctic White 331 SBF
Posts: 280
Not Ranked     
Default

As a small business owner and US citizen, I've been told I need to "buck up," "tighten my belt," and be prepared for things to get worse. I "need" to be responsible with my money and spend it in the "proper" way. Well please tell them that I am tired of writing a check for my taxes and sending it to the most fiscally irresponsible group of people ever put on earth. Let them come run my business for a week and see that to work 40 hours I generate 30 hours of paperwork to comply with their insane laws. Sorry to be so harsh, but I counted to 100 before I started typing and I'm still fired up! Thank you in advance.
__________________
We make 3 bad decisions a day. Choose them wisely.
Reply With Quote
  #20 (permalink)  
Old 06-24-2011, 07:21 AM
mreid's Avatar
CC Member
Visit my Photo Gallery

 
Join Date: Jun 2008
Location: Chester Springs, PA
Cobra Make, Engine: Kirkham 289 FIA #690, FRPP 427 Boss engine
Posts: 764
Not Ranked     
Default

David, I'm very proud to have you represent me and to add my thoughts. I hope they are helpful.

You would like to think that these committees are unbiased, however most have a preconceived idea of the desired outcome and are looking for input that supports their position, not discredits it. While this is unfortunate, it is helpful for you to know this going in. Here are my thoughts assuming this is the situation here:

1. Know your committee. What states do they represent and what are the key revenue generators for those states? What party do they each represent? What have they published that gives some insight into their position (agenda, desired outcomes, positions and perspectives)? Who else is testifying, what do you think their agenda will be, and why do you think they were chosen?

2. Pick two or three key points you want to demonstrate not make (for example flat tax, elimination of loopholes, and simplification of documentation). Demonstrate your points through reference to respected sources that are not partisan, biased, or easily discredited. Focus on the two or three points only and try not to stray. Also, don't let any agenda driven questions get you off your points. Watch for questions that try to manipulate your desired position. Remember, most are lawyers and all are politicians, so they won't be able to help themselves in this area.

3. Tell them what you are going to tell them, tell them, and then tell them what you told them. Sage advice from a mentor of mine years ago on making a short, but impactful and memorable presentation. You will only have a few minutes to make your points, so pick the most important and stick to them.

Good luck, man! I know you will be fantastic!

Mark
__________________
RCR GT40 SOLD to Fast 5
Kirkham #690 289 FIA
Reply With Quote
Reply



Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On



All times are GMT -7. The time now is 06:31 PM.


Powered by vBulletin® Version 3.8.0
Copyright ©2000 - 2024, Jelsoft Enterprises Ltd.
Search Engine Friendly URLs by vBSEO 3.6.0
The representations expressed are the representations and opinions of the clubcobra.com forum members and do not necessarily reflect the opinions and viewpoints of the site owners, moderators, Shelby American, any other replica manufacturer, Ford Motor Company. This website has been planned and developed by clubcobra.com and its forum members and should not be construed as being endorsed by Ford Motor Company, or Shelby American or any other manufacturer unless expressly noted by that entity. "Cobra" and the Cobra logo are registered trademarks for Ford Motor Co., Inc. clubcobra.com forum members agree not to post any copyrighted material unless the copyrighted material is owned by you. Although we do not and cannot review the messages posted and are not responsible for the content of any of these messages, we reserve the right to delete any message for any reason whatsoever. You remain solely responsible for the content of your messages, and you agree to indemnify and hold us harmless with respect to any claim based upon transmission of your message(s). Thank you for visiting clubcobra.com. For full policy documentation refer to the following link: CC Policy