Here’s what he said in a June speech and see our comments below.
“I want to take a few minutes to walk you through what that kind of reform will look like. Let’s start with families and individuals.
At some point along the way, our tax system started working for the tax collectors rather than the hardworking taxpayers. Look at what happens during tax season. I could describe the complexity of the code all day, but what really defines our tax code is that sense of dread that you feel. You know that feeling? You have to navigate long, complicated forms to file your returns. You need to wade through a seemingly endless amount of deductions and credits, each with its own rules and eligibility requirements. And then, after you tally up those deductions, you are placed in up to seven different federal tax brackets based on your income level. And at the end you hope—I mean really hope—that you do not owe a bunch this year. You hope, because you do not really know ahead of time. How could you? This whole system is too confusing, and just too darn expensive. We have got to stop this madness. Don’t you agree?” -Paul Ryan
Susan Curran, CPA/CFP (www.susancurranfinancial.com) fully agrees with House Speaker Paul Ryan on this matter. The trick for our Legislators will be simplifying the tax code without losing tax deductions. Most of the current code revolves around what can be done to reduce taxes. We spend unseen hours performing behind-the-scenes work to serve our clients to the very best of our ability, but the job has become so complex that we know there is no way for our clients to fully realize the effort we put into serving them. That doesn’t stop us. That is why we proactively prepare our clients on how to reduce their taxes and on what to expect when we prepare their returns by performing:
1. tax planning
2. tax estimates and
3. strategies during the 4th Quarter of the year or any time it is warranted and by
4. giving our clients recommendations for the next year when we prepare their returns.
That’s how much we care.