Absolutely wild. Republicans accidentally passed what is effectively the HIGHEST TAX EVER affecting mostly SB owners like me. Some people are being taxed over 100%! Bankruptcies and layoffs abounds. Now they refuse to take action on fixing it. Every tax year kills more SBs.

We are spending too much time discussing Associates. And not enough discussing impact of Section 174 of tax code. Many people in our industry hit with changes, and v concerned how to manage. I know a friend whose small tech business went into negative profit margins due to it.

I just got to send another email to an eager student at NC State University explaining that for the first time in seven years, we will not be hiring summer interns since we cannot expense their salaries. Senator Thom Tillis, Sen. Ted Budd, and Senate Republicans, you can fix this by passing HR 7024!

🎉Celebrating 5 years of @RIse8_Inc! From Bryon Kroger’s revolutionary idea to change the way the world’s largest bureaucracy delivers software, to a growing team that continuously delivers outcomes in production for critical missions - we are just getting started! #ForeverWeRise 🚀

We aren't looking for any special tax benefits or credits or programs or anything here.

We just want to be able to deduct our fucking payroll.

Rather than it being added back in as 'profit.'

And by 'we' I mean any business that builds software or any kind of technology.

Every day, another developer friend is laid off.

Every day, another company guts their UX team.

Every day, another founder emails me worried they’ll go personally bankrupt.

All because of unintentional tax policy that penalizes companies that make software or do R&D.

🚨 OWN A COMPANY? SIGN THIS LETTER 🚨

The Senate needs a loud and clear reminder that small software/technology companies urgently need to be able to fully deduct all of our software development and R&D salaries and expenses, and that this must be fixed before 2023 tax filings.

It's wild that the IRS says I can deduct expenses from flying our overseas engineering contractors to the US for a team meetup, but I can't deduct their actual payroll (must be amortized over 15 years).

🔥 Thank you, MarketWatch, for giving voice to small software companies!

Stop asking customers what they want

As Steve Jobs famously said, 'It’s not the customer’s job to know what they want'

Customers are experts in problems—not solutions

Start by understanding what people do today and where they struggle, then work backwards to a solution

The government shouldn’t be able to tax money I didn’t make. This is real. And it’s insane. How is it even constitutional? Senator Marco Rubio Rick Scott and Kathy Castor we need you to support the tax bill and get it passed asap before 2023 filings w/ 2022 retro.

Countries often get less of what they tax, and more of what they subsidize. With Section 174, USA is taxing small, profitable software/R&D companies at over 100%. I am not an economist, but that is a disincentive.

Call to action 🚨 Carta supports the restoration of full research and development (R&D) expensing under section 174 of the Tax Code, and we need your help.

This thread is being read and cited by members of Congress and Congressional committees.

Please DM me to anonymously add your story about how R&D amortization is hurting your company and what you've had to do in order to pay your tax bill.

Congress is listening.

Oh my god. The stories keep getting worse.