Reduce Federal tax for self employed
How about reducing the Federal Tax of 34%? I'm being taxed as two people, Employer and Employee, how fair is that?
Browse Ideas with tag 'taxes':
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This idea is active.General »Add your comment for Idea: Reduce Federal tax for self employed -
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This idea is active.General »No Payroll taxes for one year
1 comment for Idea: No Payroll taxes for one yearProhibit the payment of Payroll taxes for one year for start-ups that employ 3 or less employees and have an annual income of $100,000 or less.
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11 votes
This idea is active.General »Defer taxes on stock-in-lieu-of salary transactions
Problem: Early-stage startups lack cash to compensate advisors or employees. These startups frequently compensate with stock in-lieu of salary. As a C Corporation, it is difficult to avoid triggering a taxable event when compensating with stock. This is particularly problematic when the stock is an illiquid asset. Solution: Defer taxes on all stock-in-lieu-of salary transactions (whether gift or granting of options) ...more »
4 comments for Idea: Defer taxes on stock-in-lieu-of salary transactionsProblem: Early-stage startups lack cash to compensate advisors or employees. These startups frequently compensate with stock in-lieu of salary. As a C Corporation, it is difficult to avoid triggering a taxable event when compensating with stock. This is particularly problematic when the stock is an illiquid asset.
Solution: Defer taxes on all stock-in-lieu-of salary transactions (whether gift or granting of options) until the stock is sold, or the company is acquired.
This would make it easier for early-stage companies to compensate talent, without causing expensive tax complications for that talent.
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5 votes
This idea is active.General »Accelerate Write Off of Passive Losses
Add your comment for Idea: Accelerate Write Off of Passive LossesLower the effective capital gains tax rate by accelerating the write off of passive losses.
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4 votes
This idea is active.General »Let us vote (online) how to spend tax dollars and USPTO database
Allow citizens to vote using the internet and thus make democracy a reality. Think of the 600 million Facebook users voting on issues in real-time. We could move forward instead of stagnating. We could also fire all of our 'representatives' on capital hill. At least use the power of instant communications/feedback to gauge what people want to do with tax dollars. How about letting us see exactly (itemized) how are tax ...more »
3 comments for Idea: Let us vote (online) how to spend tax dollars and USPTO databaseAllow citizens to vote using the internet and thus make democracy a reality. Think of the 600 million Facebook users voting on issues in real-time. We could move forward instead of stagnating. We could also fire all of our 'representatives' on capital hill. At least use the power of instant communications/feedback to gauge what people want to do with tax dollars. How about letting us see exactly (itemized) how are tax dollars are being spent and let us choose from options/programs that we would like to vote up. Like Ideascale on a grand-scale. How about closing down the USPTO and letting people submit ideas/inventions into an encrypted database. Think of how many ideas are lost due to our failed patent/copyright protection/granting system. How about using the keywords associated with said inventions/ideas to refine a database of relevant content/info which will help said idea to emerge from the masses. Such as the inventions industry and potential for success can all be deduced by a computer program. For example, if I invent a new exercise ball and submit my provisional patent (with keywords), the program uses those keywords to determine the industry (if I haven't already selected this from a drop-down menu), then the industry statistics like market growth, size, etc. can help determine the viability/profitability of the invention. Also, you could retrieve associated inventions/prior-art so that a more efficient patent search can be done. There is much room for improvement and reduction of the bottlenecks to innovation and economic growth due to our ridiculous USPTO and lack of really usable tools and information for entrepreneurs without capital/resources. Does anyone with power actually read these ideas anyway? We could harness ideas and make them reality nearly instantly. World changing ideas and business models are waiting to be found! There are a lot of dudes in garages right now in the US who will never see the light of day unless we do something soon. Peace to Obama.
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3 votes
This idea is active.General »Reduce Tax Rate on Capital Gains
Add your comment for Idea: Reduce Tax Rate on Capital GainsReduce capital gains tax rates to allow previously successful entrepreneurs and investors to funnel more private capital back into new high-growth start ups. This will reduce the cost of capital for new, high growth start ups -- allowing more entrepreneurs to test more ideas.
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2 votes
This idea is active.General »Simply tax burden through efficient, tiered approach.
I would suggest the federal government empower states in order to reduce its own size. while this sounds like a lofty goal, the following measures would make this possible: (1) Reduce federal domestic operations by empowering states to take the direct responsibilities. (2) Eliminate direct taxation of citizens, and instead tax states. This will empower states to tax the citizenry on behalf of the federal government, ...more »
Add your comment for Idea: Simply tax burden through efficient, tiered approach.I would suggest the federal government empower states in order to reduce its own size. while this sounds like a lofty goal, the following measures would make this possible:
(1) Reduce federal domestic operations by empowering states to take the direct responsibilities.
(2) Eliminate direct taxation of citizens, and instead tax states. This will empower states to tax the citizenry on behalf of the federal government, simplifying operations and allowing state-level innovation. Rather than states and the federal government enforcing the existing redundant tax systems, this tiered approach would allow the federal gov't to enforce its taxation of the states with a small, efficient IRS while the states may use their existing tax-collection infrastructures to collect both the state and federal taxes.
Both of these suggestions would reduce the cost of government and the complexity to comply with tax law, which currently costs businesses a significant amount of money that could otherwise be invested in growth.
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2 votes
This idea is active.General »Bootstrap tax incentive
I suggest you allow entrepreneurs to invest proceeds from the sale of ANY asset into their business either without paying capital gains taxes or by deferring those taxes until the sale of the business. This would allow transfer of proceeds from real estate or other appreciated assets into job creating businesses without penalty. It would be simple to do by modifying one paragraph in the tax code, and it would add millions ...more »
Add your comment for Idea: Bootstrap tax incentiveI suggest you allow entrepreneurs to invest proceeds from the sale of ANY asset into their business either without paying capital gains taxes or by deferring those taxes until the sale of the business. This would allow transfer of proceeds from real estate or other appreciated assets into job creating businesses without penalty. It would be simple to do by modifying one paragraph in the tax code, and it would add millions of dollars of investment into high growth enterprises as well as small businesses.
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1 vote
This idea is active.General »Government as defacto investor
1 comment for Idea: Government as defacto investorHave a way for new companies to keep taxes owed on profit in escrow to be used for the growth of the company.
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0 votes
This idea is active.General »Tax Incentives
Add your comment for Idea: Tax IncentivesTax incentives for existing and new businesses that encourage growth through additional investment and hiring.
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0 votes
This idea is active.General »Venture Labor Tax Incentives
Encourage venture labor investments in early stage startup businesses that are operating within a non-profit organization that is established to facilitate new business development initiatives. Employed, displaced and retired professionals who may be interested in a particular early stage startup business could invest their time, not their money, on a part time basis in an early stage startup business. Venture labor ...more »
Add your comment for Idea: Venture Labor Tax IncentivesEncourage venture labor investments in early stage startup businesses that are operating within a non-profit organization that is established to facilitate new business development initiatives.
Employed, displaced and retired professionals who may be interested in a particular early stage startup business could invest their time, not their money, on a part time basis in an early stage startup business. Venture labor investing should become an alternative to venture capital investing. There is no risk to capital! Venture labor investors could receive annual tax incentives if their labor is invested on a part time basis in an early stage startup business. Include provisions in a law or regulation that would allow venture labor investors to receive an equity stake in the future enterprise even though they would have received an income tax deduction for their invested labor. Perhaps this strategy would encourage professionals to become stakeholders in early stage startup businesses at least for the tax deduction and with the future expectation that they could receive a financial return based on their accumulated equity in the startup business. Encourage the early stage startup business to simply register their activities with the IRS, FBI and/or the SEC to account for venture labor investments.
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