Posted on Tuesday, December 24, 2013 12:00 PM By Donna Puglisi
The Internal Revenue Service (IRS) decreased the optional standard mileage rates to use for 2014 in computing the deductible costs of operating an automobile for business by half-a-cent.
Posted on Wednesday, December 4, 2013 12:00 PM By Donna Puglisi
As a part of the Affordable Coverage Project, ABC and other business groups responded to final rules issued by the IRS on the new burdensome health insurance tax beginning on Jan. 1, 2014, calling on Congress to protect employers and consumers from the increased health coverage costs.
Posted on Wednesday, September 25, 2013 2:12 PM By Donna Puglisi
The Coalition for Fair Effective Tax Rates and the Reforming America’s Taxes Equitably (RATE) Coalition held a joint press conferenceSept. 19 to support the passing of comprehensive tax reform that would lower both individual and corporate rates and eliminate distorting tax preferences.
Posted on Wednesday, September 18, 2013 3:54 PM By Donna Puglisi
A study completed by the Tax Foundation found that, with pass-through businesses surpassing traditional corporations in number, individual tax rates with higher burdens impact hiring and other investment plans, causing an already struggling economy to remain unstable.
Posted on Wednesday, August 14, 2013 11:16 PM By Kinsey Cooper
Two key pass-through structures favored by small businesses pay a significantly higher effective tax rate than large corporations, according to an Aug. 7 study released by National Federation of Independent Business and the S Corporation Association, of which ABC is a coalition member. Analysis by Quantria Strategies shows that S corps will pay the highest effective tax rate in 2013 at 31.6 percent, compared to 29.4 percent for partnerships, 17.8 percent for C-corporations and 15.1 percent for sole proprietorships. Effective tax rates are the percentage of income businesses pay in taxes.
Posted on Wednesday, June 12, 2013 11:05 AM By Kinsey Cooper
The Internal Revenue Service (IRS) is hosting two webinars for small businesses on how to avoid the top tax mistakes and how to maximize tax benefits.
Posted on Wednesday, May 15, 2013 1:49 PM By Kinsey Cooper
Rep. Dave Camp (R-Mich.) and Sen. Max Baucus (D-Mont.) May 9 launched a new website, taxreform.gov, and a Twitter feed,@simplertaxes, to gather feedback from the public on tax reform.
Posted on Wednesday, May 8, 2013 1:44 PM By Donna Puglisi
The Joint Committee on Taxation May 6 released a report summarizing the findings and comments obtained from 11 working groups that were formed by the tax-writing Ways and Means Committee related to tax reform. The report is a part of an effort to overhaul the U.S. tax code.
Posted on Wednesday, March 6, 2013 11:21 AM By Donna Puglisi
In response to a U.S. House of Representatives subcommittee hearing on the tax provisions contained in the Patient Protection and Affordable Care Act (PPACA), ABC sent a letter that called attention to several provisions that will affect ABC members, including the additional Medicare taxes on wages and investment.
Posted on Wednesday, February 20, 2013 8:10 AM By Kinsey Cooper
As part of the Stop the HIT Coalition, ABC Feb. 15 applauded the introduction of the Jobs and Premium Protection Act of 2013, a bill that would repeal the health insurance tax (HIT) provisions in the Patient Protection and Affordable Care Act (PPACA).