Small business owners respond to Kamala Harris's tax relief plan

Vice President and Democratic presidential nominee Kamala Harris unveiled a plan Wednesday to increase small business tax deductions from $5,000 to $50,000.President and CEO of REA Media Group Raul Aguirre said, a tax break like this would have been life-changing when he started his business in the early 90's.'It costs an average of about $40,000 to start a new business. That can seem like an impossible number to many of our entrepreneurs,' Aguirre said.

While Harris's tax deduction proposal would let new businesses wait until they've turned a profit to claim the credit, Curcio said, it could take years for a business to make a profit, and, in turn, pay taxes.'Small businesses, sometimes they don't even turn a profit in the first three-to-five years,' Curcio said. 'They're barely breaking even, if anything, the first two or three years.

Colombia Últimas Noticias, Colombia Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

Kamala Harris to tout small business tax plan during New Hampshire campaign stopVice President Kamala Harris is using a New Hampshire campaign stop on Wednesday to propose an expansion of tax incentives for small businesses — presenting a…
Fuente: nbcsandiego - 🏆 524. / 51 Leer más »

Kamala Harris' small business plan could cost taxpayers a hefty $20B over the next decade: expertsKamala Harris promises to invest in small business with new economic plan
Fuente: nypost - 🏆 91. / 67 Leer más »