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Notes -
We have a lot of tech workers here. What's your read on the current and future tech job market, specifically for SWEs? Now that the ZIRP money faucets have turned off, will there be permanently reduced demand for SWEs? What impact will AI have? What have you seen at your own company in terms of layoffs and hiring patterns?
One thing no one has mentioned yet...
As an unintended consequence of the Trump tax cuts, there was a change in how software developments salaries must be expensed. Before, the entire value of a software dev's salary could be written off immediately. Now, the salary must be amortized over 5 years.
So, let's say you start a software company. Your first year, you pay $1 million in salaries and sell $500,000 in licenses. Not only did you lose $500,000 in cash but you have a paper "profit" of $300,000 which you now must pay taxes on.
This heavily penalizes startups and makes software devs just less valuable generally. In some ways though, it levels the playing field with brick and mortar businesses who often face similarly outrageous taxes on phantom profits.
Everyone expected this to be fixed by now as it was an unintended consequence. But the Democrats love taxes and control the government so we appear to be stuck with it for now.
That's actually really interesting, is there a name for the loophole?
I don't think so, this is all new since last year.
It's not really a loophole since the government is taxing profits that don't exist. What's the opposite of a loophole? A gotcha, perhaps?
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