On the White House’s list of “the top 10 things you need to know about President Obama’s 2014 budget” that was released yesterday, numbers 1, 2, and 3 are all designed to please small business. The White House says that the $3.78 trillion budget, proposed for the fiscal year starting in October:
- Ends tax breaks for companies who ship jobs overseas and rewards businesses that hire here at home;
- Creates jobs and builds the communications and transportation network that businesses need to succeed by fixing roads, bridges, and other infrastructure most in need of repair first; and,
- Gives small businesses a 10 percent tax credit to hire new workers or increase wages.
In fact, the President’s 179-page budget proposal invokes the term “small business” 93 times, including proposals to extend increased expensing for small business, eliminate capital gains taxation on investments in small business stock, double the amount of expensed start-up expenditures, and expand and simplify the tax creditRead More »from What’s good and bad for small business in the President’s budget