energy tax - The S Corporation Association

Finance Reports Out Small Business Tax Relief

In a bit of potential good news for small businesses, the Senate Finance Committee today adopted by voice vote an $8 billion package of small business tax incentives to accompany a planned increase in the minimum wage. Included in the package is a one year extension of the current Section 179 small business expensing limits, an extension of the Work Opportunity Tax Credit through 2012, and an extension of the shorter, 15-year depreciation lives for certain owner-occupied buildings. For S Corps, the package includes an entire title of big and small …

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admin2019-02-06T18:46:06+00:00January 17, 2007|

109th Congress Concludes Business

Out with the Old Challenges

Last week the House and Senate wrapped up the 109th Congress by approving a “continuing resolution” to fund the federal government through February 15th. Doing so leaves major 2007 spending decisions to the new Democratic-controlled Congress when they convene in January.

The House and Senate also approved a $45 million tax bill that extends for two years popular to tax benefits, such as the Research and Development and Work Opportunity Tax Credits, many of which expired at the end of last year. This comprehensive package also included an energy tax title that extended, again for two years, …

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admin2019-02-06T18:46:06+00:00December 11, 2006|

So Little Time, So Many Tax Bills

Congress has about six weeks left of session before it leaves for the mid-term elections and a very full list of unfinished items on the agenda. Just on the tax front, there is possible action on:

changes to the estate tax rules
reform of our pension system
extension of expiring tax provisions like the R&E tax credit
a potential energy tax package
and a possible increase in the minimum wage bill combined with small business tax provisions.

While we would never close the door on full consideration of each of these items, the closer we get to the election and a very probable lame-duck session of …

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admin2019-02-06T18:47:19+00:00July 18, 2006|