bizSugar - Small Business Administration lists regulations ripe for review

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Small Business Administration lists regulations ripe for review

Posted by suzyQ 117 days ago (http://columbus.bizjournals.com)
Category: Taxes | Tags: regulations home office home based business tax

The federal government's in-house advocate for small businesses released a list of 10 regulations that agencies should review, including simplifying the home office business deduction. This regulatory change would benefit millions of home-based businesses, many of which now don't take the deduction because of its complexity and the fear it would trigger a tax audit. Under the proposal, the Internal Revenue Service would provide taxpayers with the option of taking a standard deduction if they use part of their home exclusively for business. View full story...

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