ND Business Owner: The tax codes have gotten so complicated

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President Trump Visit

Bismarck, ND – The North Dakota State Tax Commissioner says the President’s plan could double the standard deduction.

Commissioner Ryan Rauschenberger said people in our state could be able to take home more money in their pay checks with this kind of tax reform. That’s because, the president wants to increase the amount of our standard deductions.

“70% of North Dakotans claim the standard deduction. They don’t itemize their deduction. They just claim that standard, check the box, one deduction. The President is talking about doubling that and that is big for North Dakota,” he said.

A Mandan businessman liked what he heard on Wednesday. During the president’s speech, he mentioned Nick Hacker. He’s the president of North Dakota Guaranty & Title Company.

Hacker estimates 90% of his employees claim the standard deduction, so doubling that alone would help the people he works with. As for his business, he said, tax season is a huge pain.
 
“I’ve got a 30 plus year, CFO that is a CPA veteran, that is not prepared to file our taxes. They’re not specialized enough so we have to hire outside accounting firms to come in just to file our taxes. And we have a bench of accounting folks that are very talented, but the tax codes have gotten so complicated,” Hacker said.
 

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