New tax laws present challenges for small businesses

The dawn of tax year 2010 brought with it many rules that some small businesses and entrepreneurs are still struggling to address. New laws that expanded deductions for startups — now up to $10,000 for the initial year — are just the beginning. For small businesses, "a prudent owner will say, 'There are a lot more things here for us to look at,'" said Judith Flaxman, an assistant professor at Temple's Fox School of Business. "Let's explore all the options provided by the tax laws and make sure we’ve taken greatest advantage of them."
March 8, 2011 | Small Business Online Community