Posted by Keith Hall (NASE National Tax Advisor) - Well, it seems like it’s that time again, when Congress considers taking away some of the tax benefits that small business owners have come to count on. The stories of debates and concessions compromises don’t always make the headlines on CNN but they affect all of the small business owners who are out there every day trying their best to create jobs. As always, we need to make our voices heard.
Throughout this critical election year, our Congressional representatives will be debating things like accelerated depreciation, the deductibility of start up costs, increased exemption amounts for alternative minimum tax and even the lower tax rates we currently pay. All of these things are scheduled to expire at the end of the year, costing all of us hundreds and even thousands of tax dollars. We all know that times are tough and that sometimes we all have to chip in but let’s make sure we don’t have chip in more so that bigger businesses don’t have to.
Yes, things change. Yes, taxes change. And, yes, we can adapt. But we need to let our Congressional representatives know that we are important as well. We need to remind them that we small business owners continue to create over 70 percent of all new jobs in this country. And, YES, they do need reminding. Contact your Congressional representatives and let them know how important these expiring tax items are. That we are counting on their commitment to small business. Tell them to extend the tax incentives. Tell them to extent the commitment.
Click here for a link to the NASE Legislative Action Center for easy access to your Representatives. Take a few minutes now to let them know!