6 Small-business Tax Changes For 2012
The tax laws change every year. The IRS has made headway by providing plain-English explanations on its website, but understanding these changes is no easy task for the small-business owner who doesn’t routinely read up on tax law. Many of the changes are routine. The IRS annually reviews and adjusts deduction and tax credit limits based on inflation rates and other economic data. Other changes result from legislation often passed many years prior. Here are a few of the changes to tax laws that may affect small-business owners when they file in early 2013.