All the Perks
Small businesses deserve some big-business treatment.
Tax equity is the current rallying cry of small-business interest groups. They want small firms to enjoy the same tax treatment and incentives that larger businesses receive. National Small Business United (NSBU) recently released a report identifying provisions of the tax code that discriminate against small businesses. For example, when Congress tried to help small businesses start pension plans, they created SIMPLE plans. "Yet big business 401(k) plans allow annual employee contributions 57 percent greater than SIMPLE plans," the study found. It's time to close the gap, NSBU asserts.
Here are some other examples of how lawmakers can level the playing field:
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