Changes afoot for small-business owners under Obama

12/22/2008 |

The Obama administration could bring changes for small-business owners, but it's hard to predict the extent or timing of the changes. "We could see a lot of changes in a short amount of time," said Bill Rys, tax counsel for the National Federation of Independent Business. The IRS does plan to lower the mileage deduction for business vehicles to 55 cents per mile and may extend beefed-up Section 179 deductions for business property.

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