Just a few days after President Obama announced a stimulus plan for small businesses, more breaks might be in the works. Yesterday, Rep. Frank Kratovil of Maryland, a Democrat, and Rep. Chris Lee of New York, a Republican, proposed amending IRS code to allow new businesses to write off more of their operating costs.
The bill, the grandly named Small Business Formation and Job Creation Act, would raise the start-up business deduction to $20,000 from $5,000.
House Suggests A Bigger Tax Break For Start-ups
Posted by
TimJustus under Startups
From http://blogs.wsj.com 1161 days ago
Made Hot by: on March 24, 2009 12:02 pm
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