What Do Poker and Tax Legislation Have in Common?

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"This legislation is revenue neutral." 

Whenever a politician makes the above statement, you should watch your wallet, because revenue neutral legislation is just like poker.  Meaning, as you may have heard, "every poker game is revenue neutral, but there are always winners and losers."   

Hence, "revenue neutral" is another term for "there will be winners and losers."  The question is, which one will your business be? 

This situation can arise in the federal tax context, but also with any state tax legislation (whether it be income tax, sales and use tax, property tax, credits and incentives, etc.). 

If this is the case, what can your company do about it

Your company can follow legislation closely and make its voice be heard.  Your company can get involved in business, trade or industry organizations that follow state legislation closely.  Your company may also choose to join a coalition or petition, etc. to take a certain position to help shape the legislation.

If your company isn't proactive, and simply reacts to legislation and its effects, your company may suffer the consequences (i.e., more taxes, etc.).

Someone told me the following statement, but I can't remember who.  I think it fits this situation perfectly: 

"Be at the table or be on the menu." 

You decide.

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great piece, thanks for the quote too.

In the UK at the moment we have a bill going through parliament at the moment called the Communications Data Bill.

I think the losers will be the small internet providers and the winners will be the big ones and the state....but not the people.

I am going to the table

That's excellent Brian!

When tax professionals were about to lose our rights to collect retainers - several tax pros got together to fight the FTC (and so did NAEA, separately) - and we got Tax Pros removed from the FTC's rules. It only took 30 days or so to get it done. http://www.accountingweb.com/b...
So, yes, you're absolutely right - "Be at the table or be on the menu."