What Congress Is Up To, And Why You Need To Know

I made my annual pilgrimage to Capitol Hill last week. While there, I asked a staffer whether any of the business owner tax incentives had a chance of being renewed. These so-called, “tax extenders” have become part of the annual government dance that business owners must suffer through in order to save taxes. Congress often comes in after the year has begun and retroactively extends some of the business tax provisions. I was told the R&D credit and higher Section 179 limits were possibiliti...