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Compiled: February 7, 2014 09:07:32 PM
For Small Businesses, a Road Without a Map
By CONRAD DE AENLLE
Last year, owners of small businesses had to cope with higher tax rates. This year, they will wrestle with greater uncertainty about the fate of some deductions they have come to rely on.
Congress has not renewed the so-called extenders, about four dozen provisions in the Internal Revenue Code that permit write-offs of various types of business expenditures and expire periodically, most recently at the end of 2013. Most or all of them could be reinstated, although no vote has been scheduled. Unless and until they are, tax specialists warn, it will be hard for business owners to make informed decisions about spending for capital equipment, research and development, and even new employees.