Business Basics - Battling City Hall
October 18, 2011
|It’s the perfect “Catch-22.” Thanks to the economy and skyrocketing costs, hobby shops are making less money, paying less in taxes while at the same time, costs for everyone are going up — including those of government at the state and local levels. Many states are raising taxes across the board — property, sales, income and excise — with more increases projected. At the same time enforcement is becoming more aggressive, more issue-focused — with more costly results.|
Attempting to prevent local, state, or even federal lawmakers from increasing the amount of red tape, rules, regulations, fees and taxes that every store owner must contend with is often fruitless — and always expensive. Battling city hall, the county or statehouse over zoning issues, unfairly levied fines, property tax assessments and, yes, tax bills, can be even more expensive. Fortunately, our tax laws contain a number of unique tax breaks and more routine deductions to help every retail business reduce the cost of those battles.
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