House Committee Proposes Small Business Tax Reform

CC - By insante_magazine at

CC – By insante_magazine at

The House Ways and Means Committee proposed ideas Tuesday for small business tax reformation.

Forbes reports committee Chairman Dave Camp (MI-R) is the main backer for reforming small business taxes. The Committee’s proposal includes: expanding current tax benefits and changes to the structure of current taxes for small and medium businesses.

First under Section 179, small businesses would see tax deductions lowered to $250,000 and phase-out at $800,000. Next, start-ups would see unified expense deductions, including organizational expenses, that would begin to phase-out at $60,000. Finally, uniform rules would be created for businesses classified as a pass-through.

The proposal also includes changes for businesses registered as S Corps and partnerships.

More information on the proposed small business reforms can be found in the original Forbes article.


About Hanna Russmann

I am a graduate of Simpson College with a degree in Multimedia Journalism.


2 thoughts on “House Committee Proposes Small Business Tax Reform

  1. Write more, thats all I have to say. Literally, it seems as though you
    relied on the video to make your point. You definitely know what youre talking
    about, why waste your intelligence on just posting videos to your weblog when you could be giving us something informative
    to read?

    Posted by cleaning business | March 25, 2013, 10:41 pm
    • I don’t really understand your comment. I don’t have any videos posted to my site, as of now. I do summarize and link to other articles when I don’t have my own content to share. Is that what your are referring to?

      Posted by Hanna Russmann | March 25, 2013, 10:55 pm

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