Tax Reform Riddle: How Big Can a 'Small' Business Be? - Businessweek

The many definitions of what constitutes a small business might not impact your business but to PEO client companies it will matter plenty for business owners who want to sell to the government, take advantage of federal loan guarantees, or know how a law will affect them.

Let’s take a moment to sympathize with the philosopher kings in Congress, who might soon be grappling with one of the most gripping existential questions of our time: What, exactly, is a small business?

Lawmakers’ most recent cause for meditation on the subject is a provision in the small business tax reform bill advanced by Representative Dave Camp (R-Mich.), which aims to reduce compliance burdens on companies with $10 million or less in annual revenue by letting them use the simpler cash method of accounting. The provision is expected to receive widespread support at a meeting today of the House Ways and Means Committee (which Camp chairs), according to a story by Marc Heller in Bloomberg BNA

Read More: Tax Reform Riddle: How Big Can a 'Small' Business Be? - Businessweek.

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