In a new report, the Congressional Research Service (CRS), a nonpartisan advisory group, reviews several ways the federal income tax system might treat small companies preferentially. The CRS studied 14 current small business tax benefits, including an expensing allowance for machinery and equipment and tax credits for start-ups to establish employee retirement plans. It found that a lack of uniformity in business size standards can engender what appears to be an arbitrary distribution of benefits. However, the CRS also found that some tax provisions benefit small companies, affecting deductions, exclusions, exemptions, credits and deferrals. Read the report: https://bit.ly/3HIRVMo
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