Newely elected Congressional officials may improve tax laws for small businesses Mark Wilson/Getty/November 4, 2014

Newely elected Congressional officials may improve tax laws for small businesses.

What Can Small Businesses and Contractors Expect from Newly-elected Officials?

This year's midterm election could bring great changes for small businesses and contractors.

The mid-term elections are over and many believe small businesses could see some great changes in their favor by way of the newly elected officials. Whether it's small business-friendly taxes or HVAC professionals having more wiggle room in EPA regulations, the November election may end up being a coup for contractors.

Contractor Magazine recently highlighted the possible changes in a photo gallery on its website. While party differences between Democrats and Republicans may make it hard to have a huge difference in taxes, the website said there could stll be some great positives from this year's election:

 

However, Congress may have more votes for a permanent extension for a deduction that will allow small businesses to use deductions up-front rather than diminish the cost of equipment later.


Visit the Contractor photo gallery to read more.

Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish