> it massively increases
that depends entirely on how much the business is taxed. every $1 deducted from taxable income is NOT $1 saved in that business' tax payment. It's much more like $0.10-$0.30 saved in taxes.
that depends entirely on how much the business is taxed. every $1 deducted from taxable income is NOT $1 saved in that business' tax payment. It's much more like $0.10-$0.30 saved in taxes.
The only businesses this hurts are small or young businesses that have yet to develop an established product and reliably revenue stream.
For them in the best case scenario they make so little that they can't even deduct but otherwise this means taxes being paid pulling away from the runway that a young business has before it builds up a stable income stream.
And I'm not making this up. We are about to get cash flow neutral in our company, and this law will literally kill us and make 20 US citizens unemployed.