STRATEGY IMPACT OF RECENT TAX LEGISLATION ON SMALL BUSINESSES

Howard Toole, James Williamson, Gerald Whittenburg
unpublished
This paper discusses selectedchangesin the tax laws, made in the Summer of I996, which are expected to have significani impact on small businesses. The general areas discussed are I) S Corporations, 2) SIMPLE pension plans, 3) independent contractors, 4) leased employees, 6) expensing qualified small business assets, 6) the work opportunity tax credit, 7) life insurance policy loans, and 8) medical savings accounts. In each case, we first discuss the basic importance of the issue to small
more » ... ssue to small business and then briefly discuss some of the technical issues involved in applying the new laws.
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