How Can Trump Make the Country Great Again for Business?

Will True Tax Reform Happen in Our Lifetime?

President Trump has made, and continues to make a lot of promises to all Americans about taxes and the economy. Throughout his campaign the president continued to push his “Make America Great Again” slogan to the delight of all those who helped him get elected. Obviously, his message resonated with enough people in the right places in order for him to win the White House. Since he took office he has been busy with many issues, including immigration and healthcare reform. At the same time, there continues to be a lot of talk regarding tax reform, including how it will affect the business world the and nation’s economy.

It’s All About Jobs

Time will tell if real change is coming and who will be the most affected by it, but the business world is eagerly waiting for those promised changes to come. So with that in mind, what things should the president be focusing on to truly make the country great again for business? The real key is to start by creating more jobs in the United States. However, it’s not just more jobs, but the president and his administration need to create more good jobs. So how will they accomplish that?

Start With Infrastructure

Our country is lagging in infrastructure. Our basic organizational and physical facilities and structures, such as freeways, highways and airport systems all need improvement. When compared to emerging market economies and countries it’s clear that the U.S.’s infrastructure is not something that can be overlooked. Improving this would no doubt increase jobs across many levels.

Create and Promote New Industries

One of the greatest ways to increase jobs and improve the economy is by encouraging new innovations. If you consider just a few of the new industries that have been created in the last decade, it’s easy to see how many more new jobs could be created if other new industries emerge as well. For example, consider the impact of things like social media, Internet retail, electric automobiles and virtual reality. More new industries such as these could lead to millions of jobs and billions of dollars.

Consider Middle America

There are several changes that could change Middle America, or the Middle Class, and help increase jobs. For example, focusing on growing middle-market companies could be a huge boost for job growth. Likewise, giving the middle class a large tax break would help improve the economy and in turn increase job production. Another step in this direction is to move certain industries to middle America. One idea is to create and fund a Rural Industrialization Act, which would move many jobs back to rural areas in the country. In addition, by expanding and building on the Small Business Act of 2013 the administration could also help promote new job creation.

Expand Immigration

Lastly, although the new administration has been very outspoken and active in reducing the number of immigrants to our country, there are several industries that could use even more. Many of the most highly skilled and intelligent people in the technology industry come from other countries. By allowing more of these individuals to live and work here, the advancements in many industries could be improved, which could have a positive affect on employment and the economy.

Posted in

Invest QSBS exclusion

Invest QSBS exclusion Updated: 1/23/2013 The FTB issued Notice 2012-03 on December 21, 2012. The Notice states that the Court of Appeal’s holding in Cutler v. Franchise Tax Board (2012) 208 Cal. App. 4th 1247, that the qualified small business stock exclusion and deferral statutes determined that the qualified small business stock statues–California Revenue and…

IRS

IRS Representing Yourself

IRS Representing Yourself So you are under audit with the IRS or the Franchise Tax Board. Thinking about representing yourself. I suggest that you think again. As a former IRS agent, some of the easiest adjustments came from individuals representing themselves. Simply put, I would ask questions and then listen to responses. Within the first…

New Ethics Rules Mean Some CEOs Will Be Hunting for a New CPA

New Ethics Rules Mean Some CEOs Will Be Hunting for a New CPA View in PDF Format (San Jose Business Journal) The relationship between a chief executive and his accountant is an extremely important one. An outside accountant can be one of your most trusted business advisors and a key to your success. That’s one…

Tax Medical Deductions

Tax Medical Deductions April 15th is almost here and if you are owing tax it may pay to take a second look at that return to see if you claimed all medical deductions you are entitled to. Your diligence in keeping track of expenses will pay off. IRS Publication 502 has a complete listing of…