Tax Impact for Small Business Hard to Gauge

NA-BU165B_CLIFF_D_20121219191204The so-called Fiscal Cliff still remains very much up in the air.  It seems where the hang up is, is at what income level the Bush tax credits would expire — the Republicans appear to favor a $1,000,000 threshold [opinion – that doesn’t look likely in the moment] the Democrats perhaps $400,000.

The WSJ reports that at a $500,000 threshold approximately 750,000 owners of small businesses would see their taxes increase according to a 2011 report by the Treasury  Department.

Read the full WSJ article.

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