Mark Cuban and the Shark Tank can teach us about taxes

I went on a binge this week catching up on past episodes of “Shark Tank,” ABC’s hit show that has investors, The Sharks, listening to pitches from entrepreneurs seeking investment into their companies.

The entrepreneurs are coming from all walks of life seeking several different types of investments from $10,000 to multi-million dollar deals.

One of the investors/sharks is Dallas Mavericks owner Mark Cuban.  Cuban is known as a winner and watching him on the show proves his competiveness, wit, humor, and desire to win.  Cuban is willing to cut someone at the knees to make a deal, but he is also in it to win.

What does Mark Cuban know about taxes?It was my interest in the show and Cuban that led me to his blog, Blog Maverick.  He wrote a post titled My Views on Corporations & Taxes and it gives a great insight into his views on business.

Cuban has four points to his blog and three are surrounding competition.  He downplays the corporate tax rates as having an impact on business, tax rates are not a reason to hire, but rather customer happiness, and that companies invest cash because it is strategic.

I agree with him on all parts and think that many times we utilize taxes as an excuse for not succeeding.  Many communities utilize tax incentives as a reason to attract big business.  It brings jobs and essentially helps the tax base for those communities.

As I read this article, I thought about you, the individual tax payer.  How often do you make decisions based off of taxes?  Do you shop across county lines because the sales taxes are cheaper? Do you make investment, donation, or write-off choices for the pure fact of being in a lower tax bracket?

I have met individuals who focus all of their time on saving, budgeting, and being frugal as opposed to making sufficient money to live the life of their dreams.  Cuban is a spender, a business man, and a winner and I think we can learn something from his approach to business.

As April 17th is quickly approaching, make sure you get into Liberty Tax and we will help you achieve your tax goals.  Make sure you get in quickly so that you don’t miss the tax deadline!

Posted To: Tax Rants by David Rocci By: David Rocci On: Monday, April 09, 2012
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