I want to thank Sandy Zinman for not just being an important voice in Washington for NCCPAP and small CPA firms, but for also representing our small business clients and their tax concerns at the recent Senate roundtable discussion highlighted here. Please read NCCPAP's press release below to learn more about the advice Sandy provided to the Senate Committee on Small Business Owners and Entrepreneurs.
NCCPAP HOPES SMALL BUSINESS CONCERNS ARE CENTRAL TO TAX REFORM
(Follow up to NCCPAP’s Participation in Senate Roundtable Discussion)
Washington, D.C.—July 17, 2013--On Wednesday, July 17, Senator Landrieau, Chair of the U.S. Senate Committee on Small Business Owners and Entrepreneurs began the Senate’s roundtable discussion on tax code changes by turning to 30-year veteran CPA, Sanford Zinman, and saying, “Sandy, I want your opinion.”
Zinman is not only a practicing CPA who works “on the ground”--as he puts it--with small business owners and middle-income families, but also serves as an active voice in Washington for NCCPAP (National Conference of CPA Practitioners): an organization whose members serve over one million small businesses and individuals throughout the country.
As NCCPAP’s Tax Policy Committee Chair, Zinman was invited to attend the Senate’s roundtable discussion on tax reform for small businesses and entrepreneurs. In addition to Zinman, ten individuals from the business community, organizations that promote small businesses, and members of the Treasury Department were present. Zinman explained why discussions like these at a policy level are critical: “Small business owners often pay a disproportionate amount for legal and tax services. They rely on outside advisors to ensure they are receiving the benefits of available tax credits while guaranteeing they are following tax code regulations.”
Confusing and burdensome tax rules, late modifications to tax laws for the upcoming tax season, conflicting state and federal tax laws, and uncertainty about future changes were all persistent issues Zinman said needed to be addressed to help CPAs and the taxpayer alike. Several other key points were made at the meeting by various attendees.
· President and CEO of Freeland Construction Company, Inc., Kenneth B. Canty, mentioned the need to streamline the SBA process and the IRS processes.
· Vice Chairman of the Angel Capital Association in New Orleans Mike Eckert addressed the need for angel investors, citing start-ups who can’t get a loan at the bank can still get angel investors.
· Greg Nelson, General Manager of Brown Rental Inc. focused on the value of Section 179—which allows taxpayers to deduct the cost of certain types of property—and why it should be made a permanent part of the tax code.
In closing, Zinman emphasized the need for keeping small business concerns at the forefront of the tax reform conversation and offered: “Small business owners want a healthy economy, some tax incentives to help them grow their businesses, a tax code that is understandable and a government that allows them to succeed.”