Accounting for Ripple Effects

I get emotional about accounting. That’s probably a personal problem — some sort of deep-seated issue dating far back in my history as an entrepreneur. But the more time I spend thinking about accounting in general, and tax returns in specific, the more emotional I get.

The accounting industry is having a very good year as we’re all pushing to get our tax returns completed. As an industry, accountants tend to do well and can expect repeat business. But this year is something special, as we all scramble to figure out just what the Affordable Care Act means for our personal tax returns.

Don’t get me wrong: I’m ecstatic to have a way of getting health insurance that doesn’t require a marriage or an employment contract. I’m willing to spend a little more time with my accountant in exchange. But the ripple effects really drive home just how much of an out-sized impact the US approach to health insurance has on our economy. With a presidential election next year, I’m sure that we’ll see even more unintended consequences in the near future.

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