The more complicated the regulatory burden, the more smaller companies canâ€™t compete. Make the laws complicated enough and the only companies that stay in business are the ones who can afford to pay for twenty guys like me. (my last regular accounting job paid extremely well, and nearly everything I did was jump through government mandated hoops, filling out government mandated paperwork which nobody in the government would probably ever read)
Trump has those resources. I bet heâ€™s got a room full of accountants, and their leader is probably a grizzled old CPA with an eye patch and a raven who sits on his shoulder. The raven also has an eye patch and an accounting degree. This man has wrestled bears, and heâ€™s going to take advantage of every tax break in the US Code for his client, and do so gleefully, knowing that many of those laws were signed by Barack Obama and Bill Clinton.
On the other side, you know damned good and well that the IRS has sent their most fearsome auditor against him. This man sold his soul to the devil, and then fined the devil for failing to list that soul as a depreciable asset. When he shows up to audit your company, he appears a flash of fire and brimstone, as a Finnish death metal band plays his theme song. He is an auditor bereft of mercy, compassion, or pity, and beneath his leathery wings serve a legion of IRS goblins, who will crawl into every nook and cranny of the Trump Corporationâ€™s P&L looking for errors, and if a mouse so much as shits a turd large enough to unbalance that ledger, there will be hell to pay.â€
HT: Karen L. Myers.