In the News: A New Small Business Tax Act on the Horizon
April 5, 2012
Our weekly update of small business news:
– Will “Obamacare” be overturned? We recently reported in the Resource Center HR News to Know that the Supreme Court heard oral arguments on the challenge to the Patient Protection and Affordable Health Care Act.
While the lawsuit specifically targets the law’s requirement that all individuals must obtain health insurance, bigger issues are at stake for small businesses.
If the Court decides that the individual mandate is unconstitutional, it could invalidate the entire law, including the requirement that employers with more than 50 employees provide health coverage to their workers. Stay tuned for more after the High Court issues its decision, likely in late June.
– The Post Office wants small businesses to send more junk mail. Yes, you read that right. The US Postal Service’s “Every Door Direct Mail” program is an online tool that makes it easy for small businesses to use neighborhoods or zip-codes to micro-target potential customers for direct mailings – no street address or name needed. The Post Office hopes to raise up to $800 million in revenue in 2012 from the program, which costs small businesses 14.5 cents per piece of mail sent.
– A new small business tax cut could be on the horizon. The Small Business Tax Cut Act of 2012 would give small businesses a one-year tax deduction that equals 20% of their active business income. While the bill is currently still in front of the House Ways and Means committee, sponsors hope to bring it to a House vote by the end of April.