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After years of heaving lobbying against a law that would require online merchants to collect state and municipal sales tax for their customers, Amazon has dropped its opposition and in return eBay has begun lobbying millions of its users against the bill. They claim that the bill, which would enable businesses to collect sales tax on online purchases, would create an unfair tax burden for small businesses.  Continue reading

Every small business looks for ways to save money, be it through reducing electricity costs, negotiating on purchases, buying used, etc. When totaling up your business's expenses at the end of the year, owners can also benefit and save money by being knowledgeable of tax deductions available to small businesses and by paying attention to IRS rules on what is and what is not deductible.  Continue reading

The House voted today to pass a $46 billion small business tax break, which Republicans say would boost the economy by freeing up money that can be used by companies to hire workers, give raises or use for equipment. The bill will now go to the Senate where it is, however, expected to be ignored. In an election year, this debate is more to show voters how they would shore up the economy than a real attempt to get it passed.  Continue reading

Late Wednesday night, Congress reached an agreement to extend the temporary payroll tax cut and long-term unemployment benefits. The payroll tax cut for 160 million Americans was set to expire at the end of this month. The compromise will also renew expiring jobless benefits and prevent an automatic cut in doctors' Medicare reimbursements. Congress could vote on the bill as soon as today.  Continue reading