Rep or Dem for small Biz

[deadline]

Very short title for a long complicated question:

I am not a republican and disagree with almost everything they stand for, but would it be beneficial for me as a small business owner if Romney wins this year? I am still in a middle class bracket when it comes to income, but will it help with tax cuts if republican is in office vs democrat?

Thanks.

[Zach929rr]

His plan is to reduce all six tax brackets by 20%, but he has yet to say which tax deductions he will eliminate. He is parking his tax plan reform on "revenue neutrality" which almost has to be met with sacrifices elsewhere in the tax code.

[Ezzzzy1]

Run you business 100% correct and the way it should be and you will never have a problem, assuming you own a "good" business.

Problem with politics and business to me is that 30+% of business owners are idiots to begin with. They LOVE blaming someone else because they are not doing as well as they used to. When the reality is that if your company used to do a lot better you should have been saving money for when things werent going so well, but most people dont do that. They spend everything they can, spend insane amounts of money on just about everything and dont plan for the future. I mean, who doesnt want to make more money every year? But I laugh at the people that make that their number one priority and actually enjoy watching their poor management lead them down the wrong road and then they always start bitching about the president.

There is no guarantee that you will make more money every year, matter of fact I think that is one of the biggest reasons small business owners complain. With a small business the goal should not be to become "rich" by exceeding your last year numbers. It should be building the strongest most diverse company you can. One that can weather storm and provide a small steady growth. This is how companies used to run and rarely are anymore and in the end you become rich because the company you built is now worth 10 mil and very attractive to potential purchasers because it was built well.

So, sure a different president will offer different things to the small business sector but there are sooo many more things that you can do for yourself then the government would ever be able to do for you. I look at the things the government does, that are a positive for my companies, as bonuses and nothing more.

[vort3xr6]

Republicans are good for small business because investor confidence rises when a republican is in office. Banks lend money easily and there is no immediate threat of increased taxes.

[TinkerinWstuff]

Very short title for a long complicated question:

I am not a republican and disagree with almost everything they stand for, but would it be beneficial for me as a small business owner if Romney wins this year? I am still in a middle class bracket when it comes to income, but will it help with tax cuts if republican is in office vs democrat?

Thanks.

nearly everything eh?

Do you know what the platform is or do you just base that on the incessant political attacks in the media?

Here's the 2008 platform if you care to read. I would guess you probably agree with more than you realize
http://gop.com/wp-content/uploads/2012/06/2008platform.pdf

The 2012 platform should be released following the National Convention.

[deadline]

I stand by what I said and don't feel like explaining my reasons. Frankly speaking I don't care who wins... I just don't want this country to jump into another pointless war, have another recession or start charging more taxes...

[laspariahs]

Run you business 100% correct and the way it should be and you will never have a problem, assuming you own a "good" business.

Problem with politics and business to me is that 30+% of business owners are idiots to begin with. They LOVE blaming someone else because they are not doing as well as they used to. When the reality is that if your company used to do a lot better you should have been saving money for when things werent going so well, but most people dont do that. They spend everything they can, spend insane amounts of money on just about everything and dont plan for the future. I mean, who doesnt want to make more money every year? But I laugh at the people that make that their number one priority and actually enjoy watching their poor management lead them down the wrong road and then they always start bitching about the president.

There is no guarantee that you will make more money every year, matter of fact I think that is one of the biggest reasons small business owners complain. With a small business the goal should not be to become "rich" by exceeding your last year numbers. It should be building the strongest most diverse company you can. One that can weather storm and provide a small steady growth. This is how companies used to run and rarely are anymore and in the end you become rich because the company you built is now worth 10 mil and very attractive to potential purchasers because it was built well.

So, sure a different president will offer different things to the small business sector but there are sooo many more things that you can do for yourself then the government would ever be able to do for you. I look at the things the government does, that are a positive for my companies, as bonuses and nothing more.

BOOM!!! I approve this message!!!

[3D]

Talking politics is almost worse than talking religion. No one ever agrees with anything you say and the conversation usually ends in arguments. Pointless conversations....:down:

[TinkerinWstuff]

Run you business 100% correct and the way it should be and you will never have a problem, assuming you own a "good" business.

Problem with politics and business to me is that 30+% of business owners are idiots to begin with. They LOVE blaming someone else because they are not doing as well as they used to. When the reality is that if your company used to do a lot better you should have been saving money for when things werent going so well, but most people dont do that. They spend everything they can, spend insane amounts of money on just about everything and dont plan for the future. I mean, who doesnt want to make more money every year? But I laugh at the people that make that their number one priority and actually enjoy watching their poor management lead them down the wrong road and then they always start bitching about the president.

There is no guarantee that you will make more money every year, matter of fact I think that is one of the biggest reasons small business owners complain. With a small business the goal should not be to become "rich" by exceeding your last year numbers. It should be building the strongest most diverse company you can. One that can weather storm and provide a small steady growth. This is how companies used to run and rarely are anymore and in the end you become rich because the company you built is now worth 10 mil and very attractive to potential purchasers because it was built well.

So, sure a different president will offer different things to the small business sector but there are sooo many more things that you can do for yourself then the government would ever be able to do for you. I look at the things the government does, that are a positive for my companies, as bonuses and nothing more.

all very true. I deal with business owners and managers every day. Many want to blame Asia and low cost wages for their problems while they are still running their business with 1980 technology.

[TinkerinWstuff]

all very true. I deal with business owners and managers every day. Many want to blame Asia and low cost wages for their problems while they are still running their business with 1980 technology.

however, I should add:

many of these owners need to know that the playing field isn't going to change on them before they are willing to take risk. Government hasn't been able to set a clear direction. Owners haven't known what their taxes or health care costs were going to be. February before last in 2011, owners still didn't know what their 2010 tax liability was. How does a guy throw money on the table to invest in technology or employees when he doesn't know what his costs are going to be for the following years (or even last year in some cases)

[Ezzzzy1]

however, I should add:

many of these owners need to know that the playing field isn't going to change on them before they are willing to take risk. Government hasn't been able to set a clear direction. Owners haven't known what their taxes or health care costs were going to be. February before last in 2011, owners still didn't know what their 2010 tax liability was. How does a guy throw money on the table to invest in technology or employees when he doesn't know what his costs are going to be for the following years (or even last year in some cases)

I see it differently. I think business owners need to expect for things to change all the time. The more solid of a foundation you have built the easier and less noticeable the storms are.

Its really a simple concept but people refuse to follow it. Why? Well because cutting corners and making more money are more attractive then building something that will not fall over when the wind changes.

Depends on how you run your business but what next years costs are shouldnt (or at least dont to me) matter. I know I have enough money in my business accounts to cover just about everything that could happen. The big problem with most business owners now days is that instead of paying the company they pay themselves. The tell themselves that they "deserve" it and that, 9 out of 10 times means that when shit hits the fan (or to the Obama critics - Obama gets elected) they do not have enough in their business accounts to make solid changes to their company to keep their head above water.... But their corvette looks nice parked in front of the shop!

I dont pay myself shit (ok, I pay myself a little shit)! I re-invest into the company and dont pay taxes on a dime of it, something very few people understand. I am responsible with my write offs, that I maximize.

The way I look at it? I run tight ships, plain and simple. Im not trying to get rich this year or next but it will happen because I am playing by the rules, planning for the future and smart with the moves I make and I would bet that 80% or more small business owners do not do all three of those things.

[TinkerinWstuff]

part of the difference is whether you are running a company that turns a few million a year with 200 employees or whether we're talking about a couple hundred thousand and 5 people.

[Ezzzzy1]

part of the difference is whether you are running a company that turns a few million a year with 200 employees or whether we're talking about a couple hundred thousand and 5 people.

Yes and no but I know what you are saying. I thought we were talking more small business then anything else.

I should add that knowing wtf the government was planning would make it easier to run a company but I guess my point is that I have cut them and their unpredictability out of my equation.

[maktastik_jr.]

i apply the same philosophy to politicians as i do cars. if it has four wheels, its a piece of shit. if it has two legs a mouth and an asshole its a piece of shit. simple as that boys.

[mxer]

I can't believe you have ask this question. If you want to attain wealth and not give it away to the government to squander it all...GOP. If you want to give away most of what you earned to programs that never work and are always in the red...Dem.

[Ezzzzy1]

I can't believe you have ask this question. If you want to attain wealth and not give it away to the government to squander it all...GOP. If you want to give away most of what you earned to programs that never work and are always in the red...Dem.

I cant believe you answered this question. Totally your biased opinion.

Like what the government does with the money you pay in small business taxes matters. WHO CARES WHAT THEY DO! If you want to run a successful business then YOU need to make the correct decisions. Its a total placebo effect to anyone that truly doesnt understand small business. What they think about the government and how their tax money is spent directly effects how good or bad their business is. In other words when there is a Republican pres then Republican business owners do better and vice versa... That is SO LAME! Its in your head!

Funniest part about all of this is the over the top Americans that have created 90% of their own problems. I have owned business from when Bush was president, I have also been part of several small business organizations over the years. Several times, before Obama took office, in my conversations with fairly successful business owners I would state my philosophy of saving in the good times for the bad times. I was the black sheep of sorts because when everyone was "making it rain" and literally blowing their wads I was the guy saying "you gotta save in times like this because you never know whats around the corner". Know what? I would say out of the original 12 business owners in the SBO there are 3, 2 including myself that didnt have to go get jobs at Home Depot because they lost everything.

Either way you have to "give it away to the government" so how does it effect your business unless you throw a pity party because you think you know exactly where those dollars are going and you dont like it.

[Rhino]

In this particular election, it's a simple question:

The R candidate makes millions of dollars a year and has paid around 13% in Federal taxes.

The D candidate thinks that things are better when "you spread the wealth around"

http://www.youtube.com/watch?v=OoqI5PSRcXM


But it does matter what programs they support too. Just look up the life of Julia and see how the taxpayer gets to be a "baby daddy".

http://i224.photobucket.com/albums/dd150/RhinoPlumbing/Public/4IBfp.jpg

[deadline]

Run you business 100% correct and the way it should be and you will never have a problem, assuming you own a "good" business.

Problem with politics and business to me is that 30+% of business owners are idiots to begin with. They LOVE blaming someone else because they are not doing as well as they used to. When the reality is that if your company used to do a lot better you should have been saving money for when things werent going so well, but most people dont do that. They spend everything they can, spend insane amounts of money on just about everything and dont plan for the future. I mean, who doesnt want to make more money every year? But I laugh at the people that make that their number one priority and actually enjoy watching their poor management lead them down the wrong road and then they always start bitching about the president.

There is no guarantee that you will make more money every year, matter of fact I think that is one of the biggest reasons small business owners complain. With a small business the goal should not be to become "rich" by exceeding your last year numbers. It should be building the strongest most diverse company you can. One that can weather storm and provide a small steady growth. This is how companies used to run and rarely are anymore and in the end you become rich because the company you built is now worth 10 mil and very attractive to potential purchasers because it was built well.

So, sure a different president will offer different things to the small business sector but there are sooo many more things that you can do for yourself then the government would ever be able to do for you. I look at the things the government does, that are a positive for my companies, as bonuses and nothing more.

This is good common sense advice and I agree with you, but it doesn't really apply to me as I just started and don't make enough to as you said in one of the posts "making it rain"... If I make extra I either invest into advertising or try to save. Its because of the fact that I am barely making it I don't want to give away too much of it.

[Ezzzzy1]

"making it rain" was in reference to what people usually do when they have extra cash in their company. You are on the right path as far as re-investing into the company. Things like advertising and growing are all tax deductible and usually tax free.

In other words if you are using profit to advertise that profit money is tax free because you are not touching it.

If you do not have employees now there is not much the election will do or not do for you. A lot of the changes that effect small business relate to having employees.

I guess my point is that I would worry more about running YOUR company like a top and not what the government is going to do. The main reasons small businesses struggle when the government makes changes is their own poor management.

I may have missed it, but what kind of company do you own?

[Sleev]

Talking politics is almost worse than talking religion. No one ever agrees with anything you say and the conversation usually ends in arguments. Pointless conversations....:down:
I disagree with this statement

[TinkerinWstuff]

More important than the president is who you vote into the house and senate. Don't forget your state and local representatives either. All of these people have far more effect on your life than the president.

Long term, the presidents has a lasting impression on the court.

[Monster]

More important than the president is who you vote into the house and senate. Don't forget your state and local representatives either. All of these people have far more effect on your life than the president.

Long term, the presidents has a lasting impression on the court.

This is very True

[Zanatos]

According to the non-partisan Tax Policy Center, Romney's plan will increase taxes on middle class families by an average of $2000.

Link: http://www.npr.org/blogs/itsallpolitics/2012/08/27/160083532/romney-s-plan-to-broaden-tax-base-finds-critics

[deadline]

I may have missed it, but what kind of company do you own?

I do 3D Design and Commercial illustrations. Plus new service called 3D printing.

www.Interactiveidea.net - our new site. still under construction. We had initial start in 05, but in 08 had stopped due to recession. Started back up last year and so far so good. I don't have any full time employees, just contractors and one part time person. Nobody is full time because the workflow is not consistent... yet...

[Ezzzzy1]

Dude that 3D printing is the shit!

I just referred a friend for some 3D work, I wish I would have known!

What part of town are you in? We should grab a beer one night.

[deadline]

I am in Superior. If you are ever in my neck of the woods, TwinPeaks got bike nights on Thursdays. http://www.twinpeaksrestaurant.com/locations/flatiron/

[Grant H.]

Being a small business part owner as well, I have to agree with Ezzzzy1...


Build the business as a strong business, focusing on stable revenue first.

As for who to vote for?

I would say stay away from the party that loves to raise taxes and spend that money helping the lazy out. Being a small business owner you already carry a large tax burden.

As for the Non-partisan tax link, I do not believe for a moment that that is actually non-partisan. Money comes into those things from all over, and he who pays the piper picks the tune.

Now, I will be completely honest and tell you that I make most Republicans look like democrats with how conservative I am.

[Zanatos]

OK Grant, ignore the Tax Policy Center.

It should be very obvious to everyone that lowering taxes and refusing to cut spending will not pay down the national debt.

Romney's plan is mathematically impossible.