I own two small retail stores and a piece of commercial property. Here's what Big Brother requires me to file: annual IRS, CA, and MA personal and business income tax returns (total of 60-90 pages); annual corporate reports; annual renewal applications for common victualler, tobacco, lottery, liquor licenses; semi-annual business fixtures excise tax; quarterly IRS, CA, and MA estimated tax payments; quarterly US and MA wage reports and unemployment reports; monthly withholding (both US and MA), sales tax, tobacco tax.
There are 3 business entities, so some of the above must be filed multiple times. Then, my tax return is so complicated, the IRS conducts mail audits at least once a year - even though I use a CPA who specializes in small business.
Is this the way to run a productive economy? I can guaranty Americans would have a far higher standard of living if we simplified this absurd system of guilty-until-proven-innocent taxation. And all that is independent of the rate of taxation.
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