Small-Business Tax Act Includes Incentives but Extends Kiddie Tax--Again

Welch, Julie A.; Gardner, Randy
October 2007
Journal of Financial Planning;Oct2007, Vol. 20 Issue 10, p44
Academic Journal
The article discusses features of the Small Business and Work Opportunity Tax act of 2007. The law increases to $125,000 the maximum allowable depreciation expense for furniture, equipment, and computer software. Tax credits are available to employers who hire certain categories of workers. The law simplifies tax filing for married couples who operate unincorporated businesses and file jointly. S corporations that earn excessive passive investment income could see that income taxed at the top corporate rate.


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