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Stam Stathis, a partner with a Bradenton accounting firm, traveled to Washington D.C. last month on a near-impossible mission: Convince lawmakers to simplify the tax code for businesses.
Stathis, of CPA Associates, testified before the House Small Business Subcommittee on Finance and Tax, of which U.S. Rep. Vern Buchanan, R-Longboat Key, is a member.
Stathis read a seven-page report to the committee that touched on everything from the unnecessary complexity of home office deductions to the confusion surrounding the tax rules governing S-Corporations. While “blow it up and start over” wasn't part of his text, it very well could have been.
Stathis told the panel: “If there is one take away from my presentation, it is if you could sit in my seat and feel the anger and frustration of the small business owners in dealing with the Internal Revenue Code and its complexity — as I do in my every day practice — you would immediately be moved to simplify the Internal Revenue Code as it applies to the small business community.”
A full version of Stathis's presentation could be found at www.house.gov/smbiz/hearings.
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