This feed is published daily with selected new or updated
content from across the Lowtax Network. For a list of Lowtax Network
sites, many of which feature daily news, see
below.
Providing essential tax news and information
for globally mobile artists, contractors, entrepreneurs, professionals,
small businesses, sportspersons and entertainers.
Lowtax Portal:
'Low-tax' business and investment in the top 50 jurisdictions covered in
exceptional detail.
Tax News: Global
tax news, continuously updated through the day.
Investors Offshore:
The independent offshore and alternative investment guide for expatriates
and the globally aware investor.
Law & Tax
News: Daily news and background data on tax and legal developments
for international business.
Offshore-e-com:
A topical guide to offshore e-commerce focused on tax and regulation.
Lowtax Library:
One of the web's largest and most authoritative business and investment
information sources.
US Tax Network:
The resource for free online US taxation information, covering: corporate
tax, individual tax, international tax, expatriates, sales and e-commerce
tax, investment tax.
NEW! Personal
Business Tax Guide: Providing essential tax news and information
on business for contractors, entrepreneurs, professionals, small businesses,
artists, sportspersons and entertainers.
Obama Urged To Cut Taxes For Small Businesses,
by Mike Godfrey, Tax-News.com, Washington
Thursday, December 03, 2009
Chuck Grassley, the senior Republican on the Senate Committee on Finance, has called
on the White House and Democratic congressional leaders to boost the economy
by lowering small businesses’ tax burden.
Grassley argued that the President’s jobs summit on December 3 should consider
small business tax relief, and the Democratic leaders in Congress should follow
suit.
While the summit is expected to include a discussion on small business incentives,
Grassley thinks that the current administration has ignored the plight of the
nation's small businesses since coming to office. Indeed, he believes that the
small business sector is being unfairly targeted by the White House and leading
Democrats as a source for new tax revenues, through measures such as the proposed
health care surtax.
According to Grassley, an analysis by the Republican tax staff of the Finance
Committee found that less than one-half of 1% of the tax relief in the Recovery
Act went to small business.
Moreover, the Joint Committee on Taxation and Republican
Finance Committee tax staff suggest that one-third of the USD460.5bn raised
by the surtax in the House of Representatives’ health care bill comes
from flow-through business income.
“The marginal tax rate on that kind of small business income will rise
by 69%,” Grassley stated. “Small businesses create
70 percent of new jobs. If the surtax is enacted, job creation will go down.”
Grassley introduced legislation in June that includes a series of measures
to help small businesses, which, he argues, create 70% of all net new jobs.
Among other proposals, Grassley's bill would increase the amount of capital
expenditure that small businesses could expense
from USD250,000 to USD500,000, extend the carryback period for general business
credits to 5 years from 1 year for small businesses, and reduce the tax burden
for C Corporations and S Corporations.
“My bill will leave more money in the hands of small business owners
so they can hire more workers, keep paying the salaries of their employees,
and make additional investments that will lead to new jobs,” Grassley
stated.
He concluded: “Unfortunately, the White House
and congressional Democrats seem to see small business owners as a cash cow
for other priorities and want to raise their taxes. If we don’t help the
one segment of the economy that creates the majority of new jobs, we’ll
be in even worse economic shape than we are now.”
One of the web's largest and
most authoritative business and investment information sources. Alongside
topical, daily news on worldwide
tax developments, you can receive weekly newswires or
access up-to-date intelligence
reports on a range of legal, tax and investment subjects.
Our 16 constantly updated
intelligence reports cover every important aspect of 'offshore' and international
tax-planning in depth, including banking secrecy, the EU's savings tax
directive, offshore funds, e-commerce, offshore gaming and transfer pricing.
Reports are available for immediate downloading or as subscription
services with news pages.
Advertising & Marketing
With over 50,000 qualified readers every month our web-sites
offer a number of cost effective, targeted advertising,
sponsorship and marketing opportunities:
Display advertising - from 'skyscrapers' to 'buttons'
Content/article submission and sponsorship
Opt-in email marketing
On-line Services Directory listings
Could your corporate web-site or newsletter benefit
from incorporating regularly updated news and content
tailored to serve your clients' interests? We can provide
a variety of maintenance-free news and content solutions
that can be seamlessly integrated and dynamically delivered:
Click here for a brief introduction
to RSS and instructions on how to get the Tax-News feed.
IMPORTANT NOTICE: THE LOWTAX NETWORK has
taken reasonable care in sourcing and presenting the information contained on
this site, but accepts no responsibility for any financial or other loss or damage
that may result from its use. In particular, users of the site are advised to
take appropriate professional advice before committing themselves to involvement
in offshore jurisdictions, offshore trusts or offshore investments. All materials
on this site copyright THE LOWTAX NETWORK 1999 to 2010. Contact
us for further information.
TAX-NEWS.COM
Free Tax-News Feed