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by kulahan 370 days ago
> You can make wild assertions all day long, but ultimately, you have to have significant revenues for this to matter

Oh, you actually are just straight-up lying, or purposefully wallowing in ignorance.

Here, read this so you can’t play this game where you pretend not to know that this is true.

https://sensiba.com/resources/insights/protecting-qualified-...
1 comments
timr 369 days ago
> Oh, you actually are just straight-up lying, or purposefully wallowing in ignorance.

Wow. I know I shouldn't reply, but:

  1) That's about QSBS, not income tax.

  2) QSBS is only relevant should your equity be liquid (i.e. IPO, sale, etc.) in the distant future (there's a 5-year holding period).

  3) QSBS is only applicable to a fraction of startups anyway.
The section 174 change interacts with both things, but the reason people want to change it has nothing to do with QSBS, and everything to do with the fact that they cannot deduct expenditures in the current tax year.
link
kulahan 369 days ago
Yeah, you probably shouldn’t respond if it’s continued lying.

See, you started off lying by pretending this isn’t actually affecting any businesses who doesn’t already make a ton of money (yes, I know you tried to slip by simply by saying “revenue” instead of “profit” as if that’s not the entire topic of discussion here).

Then you continued to lie by saying that the real world effects, which have been reported on plenty, simply don’t exist and are “wild assertions”.

I proved you wrong by showing how small businesses can lose an incredible benefit because this tax code change disqualifies many who SHOULDN’T be DQ’d, and now you’re lying by saying that this change, which is about making formerly tax-deductible things no longer tax-deductible and thus pushing you into scenarios where you have six figure tax bills, doesn’t count because nobody is REALLY talking about how qualified small businesses no longer can consider their QSB stock sales as tax deductible, thereby pushing them into a tax bracket where they might get a six figure tax bill.

Or, as I said previously, you’re still just ignorant and the source I provided was simply to esoteric to understand.

link