Michele Hansen @mjwhansen
Co-Founder @Geocodio, an indie SaaS. Wife of @MathiasHansen. Author @DeployEmpathy. Spending my free time fighting ruinous new taxes on the software industry ssballiance.org Joined February 2009-
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I want to congratulate @NWilliams_STrib for being the first reporter I'm aware of to mention the deleterious impact of Section 174 in an article about tech layoffs. It's been under-discussed and I'm glad to see a reporter finally get this right. startribune.com/after-hiring-b…
Glad to see the Section 174 tax fiasco get attention from @friedberg and @Jason. The only thing I wish they had added is that it's vitally important for founders in Idaho, NC, and SD to call their senators to advocate for HR 7024. Those senators are the problem.
Glad to see the Section 174 tax fiasco get attention from @friedberg and @Jason. The only thing I wish they had added is that it's vitally important for founders in Idaho, NC, and SD to call their senators to advocate for HR 7024. Those senators are the problem.
Great to see investors getting involved in the charge to fix Section 174! Investors: Are your PortCos bleeding cash to taxes and forced to raise again sooner than planned at lower valuations? Read up on Section 174 then be like Einar 👇
Great to see investors getting involved in the charge to fix Section 174! Investors: Are your PortCos bleeding cash to taxes and forced to raise again sooner than planned at lower valuations? Read up on Section 174 then be like Einar 👇
Employees at a company that develops drugs for quadriplegics have had to slash their own salaries to $0 in order to afford the massive tax hikes of Section 174. And @MikeCrapo thinks this is fine.
Employees at a company that develops drugs for quadriplegics have had to slash their own salaries to $0 in order to afford the massive tax hikes of Section 174. And @MikeCrapo thinks this is fine.
I've launched an "All-In" productized design plan! It's like the typical unlimited plan, but honest. Signup, stack your design requests and get work back within 2 days. $3,499 p/month, but the first 3 clients get 20% off, forever with this code: 5N3T45 link below 👇
It’s the day after Tax Day. Call your Senators, because those of us still holding out a bit of optimism in our government, extended the tax returns of great companies dying because of #Section174 ineptitude. @MikeCrapo @chuckschumer
It’s the day after Tax Day. Call your Senators, because those of us still holding out a bit of optimism in our government, extended the tax returns of great companies dying because of #Section174 ineptitude. @MikeCrapo @chuckschumer
Since it's tax day, thought I'd share that Section 174 added $236,000 to my taxable income--that's $236k that was used to pay *other people* but I still have to pay state and federal income tax on it. Incredible work, @SenateGOP, @MikeCrapo
We only have the rough calculations right now, but looks like our tax bill is going to go up by ~$100,000 on profits that we never had because of the craziness of IRC section 174. We are a small business. We write software. We can't deduct our salaries fully. Pass HR 7024 now!
In the latest push for his tax bill, Finance Chair @RonWyden released Treasury data saying 3.8M small businesses took now-expired tax breaks in 2021 that the bill would revive Wyden is hitting R's for blocking the bill. There have also been calls for Schumer to hold a vote --
One of the frustrating things about talking about Section 174 with people who understand accounting but not software is they think "well, you're prepaying tax but it evens out in later years." That's only true *if you fire your engineering staff*
.@tedcruz @JohnCornyn — small businesses need you to support the Tax Deal! (we also need a lot of other stuff from you, but this seems like a good place to start)
.@tedcruz @JohnCornyn — small businesses need you to support the Tax Deal! (we also need a lot of other stuff from you, but this seems like a good place to start)
If you follow me, you're sick of this. I know. But I promise if this bill doesn't pass, things will continue to get more and more ugly. It'll start with software development and other innovative firms, sure, but I guarantee it will ultimately impact everyone. Call your Senators.
If you follow me, you're sick of this. I know. But I promise if this bill doesn't pass, things will continue to get more and more ugly. It'll start with software development and other innovative firms, sure, but I guarantee it will ultimately impact everyone. Call your Senators.
Hey @SenSherrodBrown & @SenVancePress, small businesses need your help. I’ve called and emailed and now I’m here hitting you up on X. We can't wait for a perfect bill. We need your help now.
Hey @SenSherrodBrown & @SenVancePress, small businesses need your help. I’ve called and emailed and now I’m here hitting you up on X. We can't wait for a perfect bill. We need your help now.
Not looking great for the tax bill. If you have a Republican senator (or Liz Warren), call them!
Arvid Kahl @arvidkahl
140K Followers 18K Following Building https://t.co/od97B0HVrk in Public. Raising all the boats with kindness. 🎙️ https://t.co/6w69DZmi8H · ✍️ https://t.co/lpnor5rsTW · 🗞️ https://t.co/dY99qs7qHQ · 📚 https://t.co/cHkXgWNeCTDagobert Renouf @dagorenouf
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22K Followers 371 Following Software, finance, and startups 💰| check out my newsletter on the software industry: https://t.co/XmJzDA25p5I want to congratulate @NWilliams_STrib for being the first reporter I'm aware of to mention the deleterious impact of Section 174 in an article about tech layoffs. It's been under-discussed and I'm glad to see a reporter finally get this right. startribune.com/after-hiring-b…
@saasisson @helloitsolly I honestly know a handful of founders who have made millions, are down to earth, still giving and giving, and can carry on a debate without insults @robwalling @asmartbear @mjwhansen @earthlingworks @mijustin @TheCraigHewitt I am forgetting a handful of other ones
If you've been thinking about checking out Hello Query - now is the time! Paywall goes up Friday. 👇 app.helloquery.com/users/sign_up
Yesterday, I gave a talk at the NY Video Tech meetup titled "who took our jobs", talking about the Tech Recession of 2022-now caused (in part) by hashtag#section174. docs.google.com/presentation/d… (1/3)
Senator @MikeCrapo, you may want to get ahead of #section174 before it gets ahead of you. The impacts are real and it’s getting louder and more mainstream.
Seeing more founders talk about the Section 174 tax changes. One of the most underdiscussed elements of this tax change is that it could make hiring international engineering talent economically infeasible for a lot of startups. With more and more startups building global teams…
Seeing more founders talk about the Section 174 tax changes. One of the most underdiscussed elements of this tax change is that it could make hiring international engineering talent economically infeasible for a lot of startups. With more and more startups building global teams…
Even if the tax bill passes (and I hope it does!) it doesn't fix expensing for international R&D. I realize protectionism is fashionable again, but it's always dumb, whether it's tariffs on cars or penalties for hiring foreign research talent. We need to advocate for a fix to…
Seeing more founders talk about the Section 174 tax changes. One of the most underdiscussed elements of this tax change is that it could make hiring international engineering talent economically infeasible for a lot of startups. With more and more startups building global teams…
@estuspete @theallinpod @Jason @Andrew_Robl @JasonKoon @phil_hellmuth @Google You are entirely wrong. Section 41 (R&D tax credits) is different from the section (174) that mandates amortization of R&D expenses, including all software development. Amortization is not optional under Section 174; it is mandatory.
@estuspete @theallinpod @Jason @Andrew_Robl @JasonKoon @phil_hellmuth @Google That’s not true. And it’s not the R&D tax credit (section 41) that is the issue. The new law says that all software development counts must be filed as a section 174 expenditure. And it also says that all section 174 expenditures must be amortized. This law changed in 2022.
@theallinpod @Jason @Andrew_Robl @JasonKoon @phil_hellmuth @Google Thanks for talking about the tax issue. It’s a huge problem for startups like mine. One thing to note is that a company that breaks even and doesn’t grow will stop owing tax after five years, BUT they will have still have paid insane taxes for five years that they can’t get back!
At big companies you often run into old terrible code that’s still not been fixed and curse the person that wrote them years ago. I’ve done it plenty, I can’t help it. I was once the first engineer at a startup and was there for 14 years. So I’ve been in meetings where a…
@jondkinney It was nice to hear the All In Podcast talk about it in their latest episode. Glad @friedberg brought it up! They talked for 10min starting at the 1:02 mark.
I'm super excited about the new updates for HelloQuery -> it's massively faster and you can now build, edit, and visualize your questions with one click!
@dhh There is one exception: tech companies need to get more into the politics of fixing Section 174 so that we can expense payroll again.
One of the most brilliant things the Notion team did early on was to tag every customer conversation in Intercom. That way, it was easy to pull a list of the most requested features and bugs in real-time to inform the roadmap. Plus, anytime a new feature was released, it was easy…
@bryce Currently the U.S. tax code actively discourages companies from hiring engineers because most of what a business pays an engineer in their first year of employment falls to bottom line as fake profit on which the business owes real tax.
I have accepted my fate as “online tax policy micro influencer” 🫡😭
Why is this guy the only one making noise about this all the time?
@mjwhansen Unfortunately in this case I think it's that the customer is saying they want something they dont. We get them on the phone and often they just really don't have zero motivation to use a CRM but know they need one, so they sign up and refuse to engage with it.
@einarvollset @MikeCrapo Bravo! We need more investors to get vocal about this.
Talking to more and more founders who are having to dig into savings or fire people to pay tax bills because @MikeCrapo refuses to fix Section 174. If you live in Idaho, give him a call! (202) 224-6142 Idaho is a pretty small state population wise, so your call matters!