David Kirkham Testify Before The Senate Finance Committee

[LoyWarr]

I really like most of what has been said here. I notice that no one has said he should not be taxed at all. That is because people are willing to pay their share of the tax burden, but it should be the same or equal shares. That usually describes a "flat tax".

Taxes should be easy to calculate. That usually describes a "flat tax" as well.

finally taxation should be based upon ones ability to pay. That means it would be based upon increase, not consumption nor assets.

I have been taking my information to a professional tax preparation company for several decades. Five years ago I was audited. So I changed who I was going to. The new accountant going through my previous filings pointed out that I had been filling wrong for all previous seven years. The bad part was that the filings were also all differently wrong.

Currently the only way we are sure we have filed correctly is four years later when we have not yet been audited.

[Scoober]

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.”

I am curious what this committee is trying to get?? They have to know that it is complex and there are gaps. Are they wanting ideas on how to make it fair and more even or are they tring to find a new loophole for one of the members busineeses? "Kiss" and "does this make sense" would be words for them to ponder a new process.

It may set the tone to ask them a question or two before you start.

[RodKnock]

I'm sure I'm in the minority, and I apologize in advance, but while this is an important issue, this a Cobra enthusiast site and therefore business tax issues or any other serious political issues shouldn't be discussed here.

That's MVHO.

[Tommy]

Mr. Kirkham,

I'll offer one suggestion to help increase tax revenue without raising taxes for those currently abiding by our tax laws. I suggest the government speed up what I believe is an inevitable move to a cashless economy. I'd like to see all financial transactions done electronically so those in the cash economy who currently avoid paying taxes will have to pay their fair share. ... To illustrate my point, consider the fishermen in Louisiana who filed for compensation from BP after last year's oil spill. Many could not prove they had earned income over the previous twenty years because they had never declared their cash incomes or paid taxes on them. I'd like to see that end.

Thank you for asking for our input.

[mrmustang]

Originally Posted by David Kirkham

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,

I believe the only problem there will be is that they will not understand what you are talking about. You run a successful business, keep your books balanced and are rarely in debt. The government as it is run right now cannot imagine balancing their books and working within their own budgets. If we ran our businesses like the government employees ran their respective departments, we'd have been out of business long ago.

You want to talk about taxes, but fiscal responsibility should be spoken about first. Instead of raising taxes, they need to look at cost cutting measurements from within. Only then can you sit down with them as a ("responsible adult") business owner and discuss taxes and tax consequences from the small business owner standpoint/platform.


Bill S.

[Don]

David:

Style, as well as content, will be important recognizing the Senators have listened to many generic, and sometimes boring, testimonies. Hopefully, want to have your's remembered for the future. Value of a citizens practical comments vs those of a paid lobbyist.

* Be specific as possible, avoid generalities

* Attempt to keep the challenges/desires/requested changes at a minimum, to those most significant, rather than a lengthy list , i.e. what is most important knowing everything will not be changed.

* Don't have the answer, but what would make your presentation be remembered, as opposed to the generic type of testimony.

* For your consideration, invite Senator(s) to your business to witness the real world

My thanks in advance , as a variety of small business successes directly impacts us as Hobbyists......there is a direct correlation.

[GT350Mike]

Originally Posted by Don

David:

* Don't have the answer, but what would make your presentation be remembered, as opposed to the generic type of testimony.

Great idea! If you're able to provide a PowerPoint presentation and you want to make it to be remembered, tie a story or an idea that you're trying to demonstrate to a photo of a polished Kirkham......THAT will help drive the point home and will stay in their minds for a long time!

[YerDugliness]

Mr. Kirkham, I agree with most all of what has been said here, but perhaps mostly the comment regarding knowing your audience. These politicians have probably already made up their minds and have opened hearings as a matter of policitical damage control.

That does not mean that they won't listen....pol's LOVE to listen to their constituents, regardless of whether or not they plan on changing their agendas or behaviors. What will turn them off more quickly than anything is for you to stand up and tell them what they have been doing wrong WITHOUT telling them what they have been doing right.

I suspect they might well be receptive to suggested simplification of the tax codes as well as more effective methods of collecting taxes from those who attempt to avoid paying their share (a suggestion: any employer who hires undocumented aliens, many of whom are in my experience incredibly sophisticated tax dodgers, should be penalized in a manner that will be equal to the taxes those undocumented workers have avoided).

Massive changes in our financial world are ongoing and we are powerless to stop them...perhaps we need a change of politicians before we can see the improvements we want (of, course, they WON'T want to hear that!!!!).

Cheers from Dugly

[twobjshelbys]

Originally Posted by David Kirkham

Thank you. I will certainly tell them the complexity is costing jobs.

The government will certainly disagree. The complexity is creating jobs. Look at all the tax preparers and the whole industries built around tax preparation firms like H&R Block and software like Turbotax, and then you have a whole government bureaucracy of the IRS. A friend and I were talking last night about a VAT. It won't happen. The IRS would no longer be needed. H&R Block would be non-existent and all those software guys in India doing Turbotax would no longer be needed.

I think we all agree that simplification would be good for us, but it's what keeps "them" employed. They have lots more lobbyists than we do.

Good luck but I would rather row a raft up the Colorado River.

P.S. I'm curious just how much of our tax base goes to the "overhead" of the IRS?

[lnfletcher]

Try to remind them or help them realize that businesses don't pay taxes, customers do and we just collect them for them, so a tax increase is passed to the customer in higher prices.

That the time spent preparing and justifying the hiring of a single person is so outrageous that in all but the most needed cases, we do not. If there is a temporary need or an unknown, it is not worth it in business sense.

That their job should be to make it easier to hire and to do business instead of more difficult.

[Don]

David, a group of hobbyists testified at a CT General Assembly Committee Hearing. By the nature of the questions and comments, it was obvious without any criticism, the passion and understanding for our interests were not universally known or accepted.

The success of Kirkham needs to be mentioned, as one positive example of many regarding small businesses contribution to the economy and life's pleasures.

[David Kirkham]

Gentlemen,

Thank you all so very much. All your comments have confirmed what I already know from talking with all of you over the years. I will use this thread in my testimony. Who would have ever thought Club Cobra would be forever in the congressional record

Please keep the comments coming, even if they are only to confirm what someone else has already said. I will use the numbers in my testimony.

Thank you all so very much for this brief detour into politics. Thank you all so much for keeping the conversation on solutions. I sincerely appreciate it.

David


David

[Jamo]

Actually, let's wrap this up.

PMs, Facebook, emails...all available for further discussion. thanks.

[Jamo]

P.S You're gonna put my ass in the Congressional Record?

cool

[mreid]

Scary thought!

[grego]

David,

One more comment from me.

I live and work in Shanghai, China. As an American citizen, I need to file both US and China taxes.

My China tax filing is one page. That's it.

My US tax filing, while certainly more complicated due to working overseas, looks like the tax return for a Fortune 500 company. It's almost 60 pages.

Even when working in the states, the complexity of filing is too burdensome.

Greg

[eschaider]

Originally Posted by Jamo

P.S You're gonna put my ass in the Congressional Record?

cool

I don't think the record is that big Jamo

Ed

[WardL]

I am currently going through the process of setting up and properly paying taxes on home care employees. Since I am a "Do it your-selfer" I have found this process very intimidating and complex. No wonder many refuse the requirement to properly pay taxes for household employees. This process needs simplification.

[N2VENOM]

Originally Posted by Jamo

Actually, let's wrap this up.

PMs, Facebook, emails...all available for further discussion. thanks.

Sorry Jamo, I was late to the discussion.

David, thanks for taking the time to represent the little guy on the hill. I have a small business (revenue under 5 mil.), and have a couple of suggestions. First, it was great seeing you and the guys while picking up the flip-top.

Simplify the taxation of capital gains: The income tax currently imposes at least eight different effective tax rates on capital gains, depending on the taxpayer’s regular tax rate, how long an asset was owned, the type of asset, and whether the taxpayer owes AMT. The IRS provides three different worksheets, one with 37 lines, to help taxpayers calculate their tax on capital gains. Allowing a percentage exclusion for long-term gains (and perhaps other kinds of gain) and applying regular tax rates to the rest would sharply reduce the complexity of returns while maintaining different treatment for different kinds of gain.

Combine tax incentives to save for retirement: Workers can currently save for retirement in various ways that receive different tax treatment; these include deductible, nondeductible, and Roth Individual Retirement Accounts, regular and Roth 401(k)s and similar plans, and traditional employment-based pension plans. Each type of saving has its own eligibility requirements, income limits, and tax benefits, which complicates the task of choosing among them. Combining existing options into fewer alternatives and setting the same income limits for all would simplify workers’ choices and reduce the cost of administering so many programs.

Good luck, say hello to Obama for me. Peace, Darren

PS. Thanks for allowing me to take the billet car for a spin. Very cool.

[N2VENOM]

Originally Posted by David Kirkham

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.

David

David, we would all like to watch or hear your testimony. Try to post some video.

Jamo (administrators), how about starting a political thread for those who are interested in following one of our own's journey as he makes a difference in the world? David's endless pursuit to engineer the best cobras, while dedicating his time and energy for change that will directly benefit everyone here is worth supporting. JMHO.