small business tax deduction News

IRS Proposals Clear Way for Trump Tax Cut for Insurance Brokers

The Treasury Department has moved to clear up some confusion in the Trump tax cut law by proposing that the full 20 percent deduction for pass-through businesses be made available to a broad spectrum of small businesses, including insurance agents …

How Republicans’ Senate, House Tax Bills Differ

Expiring tax cuts, business perks and health care politics loom over House and Senate Republicans as they face the daunting task of hammering out the differences between their competing bills to rewrite the U.S. tax code. Different versions of the …

New Tax Deduction Available to Ohio Small Businesses

The state tax commissioner is reminding Ohio small-business owners that they may be eligible for a recently enacted tax deduction. In an alert issued on Jan. 21, Commissioner Joe Testa urged taxpayers to visit the Ohio Department of Taxation website …

Alabama Boosts Tax Break for Small Businesses Buying Health Insurance

Alabama Gov. Robert Bentley has signed legislation increasing the state income tax deduction that small businesses get for supplying health insurance for their employees. The new law applies to the current tax year. Bentley said the savings provided by the …