For Small Businesses, Tax Law Has Become a Moving Target

Small business owners need to be aware of big changes in the tax code for 2013 and beyond that affect their operation. Employees, and the employer, need to dock pay 2% beginning Jan. 1 when the two-year reduction in the payroll tax expired. Tax rates on dividends for those with higher incomes also increased, affecting owners of businesses set up as C Corporations. Several credits and deductions “coveted by small businesses” have been renewed or expanded. Read More