Maine Governor Uses Veto Threat To Push Tax Reform

Maine Governor Paul LePage, arguably bringing tax reform initiatives to a new level, threatened to use his veto power on all legislation dealing with tax exemptions and tax breaks that the legislature sends him until such time as they take some kind of action on his own tax reform package that the Governor filed at…

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Challenge to Obama Care Tax Credits Heard by SCOTUS

The US Supreme Judicial Court heard arguments this week on the issue of tax credits being utilized in the Affordable Care Act.  The issue stems from language in the health care law (“We have to pass the health care bill so we can find out what’s in it.” – then-Speaker Nancy Pelosi) that authorizes a…

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US House Passes Permanent Section 179 Expensing Bill

It was one of the so-called “tax extenders” that have been allowed to expire in each of the past two years, only to be retroactively reinstated.  At long last, the US House has moved the issue forward again and passed legislation that will make the accelerated and bonus depreciation deductions permanent.  The legislation, known as…

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Affordable Care Act Takes Hold

Although small businesses that employ at least 50 and fewer than 100 workers are not required to offer health insurance to their employees until January, 2016, there are a host of reporting requirements that such businesses must meet this year to ensure they have the information necessary to comply with the mandate next year when…

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Newest Tax Climate Index – Trick or Treat!

As our children prepare to celebrate Halloween this evening, businesses across the country are being subjected to the governmental version of tricks & treats, as well, depending upon the state within which they operate their businesses.  The Tax Foundation released their annual Tax Climate Index this week identifying states by their business-friendliness rating.  For the…

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Bonus Depreciation Clears US House

In a significant breakthrough, the US House has passed a bill making so-called bonus depreciation permanent and extending its coverage to stores that are owned as well as those that are leased.  By a 258 – 160 vote last week, the House sent the measure to Senate, where it has enjoyed wider support and stands…

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House Votes to Extend Section 179 Expensing

The US House last week by a vote of 272 – 144 approved the reinstatement of Section 179 expensing, one of the important tax extenders that was allowed to expire at the end of 2013.  When Section 179 expensing expired, the limit for taxpayers dropped from $500,000 to $25,000 per year – the House’s action…

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More Details on the Stalled Tax Extender Bill in the US Senate

As we reported before, the Senate last week defeated an effort to quickly advance to the floor the Tax Extender bill, which would restore a number of tax credits and provisions that would benefit small businesses.   The initiative by the Senate’s Democratic leadership was shot down on a party line basis by the Republican minority,…

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Glossary of ACA-Related Terms

Affordable Care Act (ACA): The Affordable Care Act (ACA) is also known formally as the Patient Protection and Affordable Care Act (PPACA) and informally as Obamacare or federal health care. President Barack Obama signed the Act into law on March 23, 2010. Together with the Health Care and Education Reconciliation Act (enacted by Congress to…

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DDIFO Along With the CFA are Listed Supporters of the Small Business Tax Cut Act

Dunkin’ Donuts Independent Franchise Owners (DDIFO) along with the Coalition of Franchisee Associations (CFA) and other franchisee associations have all signed on to support The Small Business Tax Cut Act which was introduced by Majority Leader Eric Cantor. The tax cut bill, if passed, would decrease small business owners’ taxable income and increase bottom lines. Specifically, The Small Business Tax Cut Act would allow franchise owners to deduct 20 percent of their income from taxes, up to 50 percent of their W-2 wages.

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