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patio11's profile
Patrick McKenzie
Patrick McKenzie
Patrick McKenzie
@patio11

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Patrick McKenzie

@patio11

I work for the Internet, at @stripe, mostly on accelerating startups. Opinions here are my own.

東京都 Tokyo
kalzumeus.com
Joined February 2009

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    1. Patrick McKenzie‏ @patio11 10 Jan 2018
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      I was audited by the State of Hawaii one year, because one of my companies had registered to file a bid with one of their agencies, and then they didn't get a business privilege tax return from us the next year. Responding to the audit took 45 minutes.

      1 reply 0 retweets 5 likes
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    2. Patrick McKenzie‏ @patio11 10 Jan 2018
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      General flavor of the interaction: "How much revenue did you have in Hawaii last year?" *SQL query* $180. "Wait, what. OK, you're done."

      1 reply 0 retweets 8 likes
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    3. Patrick McKenzie‏ @patio11 10 Jan 2018
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      In general, exuding professionalism will make many, many interactions with government (and other bureaucracies) go better for you. You want to be polite, compliant, and armed-to-the-teeth with well-organized records. And, again, this is why you pay your professional advisors.

      1 reply 2 retweets 12 likes
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    4. Patrick McKenzie‏ @patio11 10 Jan 2018
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      Accountants generate immediate ROI at any scale of business larger than a bake sale. My Japanese accountants, for example, caught that I had filed an exemption from consumption tax because all of my sales were exports of software. That was not an optimal filing.

      1 reply 1 retweet 10 likes
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    5. Patrick McKenzie‏ @patio11 10 Jan 2018
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      The optimal filing was to file a consumption tax return, saying that we had $0 of sales subject to consumption tax. And then claim back all the consumption tax our business had paid (on business expenses). Resulting in a tax refund of several times what I paid accountants.

      1 reply 0 retweets 10 likes
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    6. Patrick McKenzie‏ @patio11 10 Jan 2018
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      "Wait you can get radically different results from the same facts with just tiny changes in what you type on your return?" You sound very surprised, hypothetical person who probably has programmed before.

      1 reply 4 retweets 46 likes
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    7. Patrick McKenzie‏ @patio11 10 Jan 2018
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      If you read this far, you might want to check out our guide to business taxes: https://stripe.com/atlas/guides/business-taxes … If you're an Atlas company, we've got a quick survival guide for tax season here:https://stripe.com/atlas/guides/tax-season …

      2 replies 0 retweets 22 likes
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    8. George Stocker‏ @gortok 10 Jan 2018
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      Replying to @patio11

      If we are not an atlas company, how do we become one?

      1 reply 0 retweets 0 likes
    9. Patrick McKenzie‏ @patio11 10 Jan 2018
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      Replying to @gortok

      You can incorporate an Atlas company here: https://stripe.com/atlas  We do not yet have a way to Atlas-ize existing companies (except by incorporating a new entity).

      1 reply 0 retweets 2 likes
    10. George Stocker‏ @gortok 10 Jan 2018
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      Replying to @patio11

      Did you have an umbrella Corp or four separate ones for your businesses?

      1 reply 0 retweets 0 likes
      Patrick McKenzie‏ @patio11 10 Jan 2018
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      Replying to @gortok

      I had: One LLC (Kalzumeus Software) for almost everything I did personally. One LLC for Appointment Reminder, since HIPAA regulation is scary and I wanted that risk firewalled off. One LLC with my co-founders for Starfighter. One G.K. (a Japanese LLC) for doing payroll for SF.

      8:30 AM - 10 Jan 2018
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      • George Stocker Zadig
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