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Small Businesses Face Big Tax Bills From Research-Deduction Change
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Laura Lynn Gonzalez expected a tax refund this year, after her two-employee data-visualization company experienced a $30,000 loss. Instead, she said, she is facing a $100,000 federal tax bill that is about as large as her 2022 salary.
Ms. Gonzalez’s predicament stems from a piece of the 2017 tax law that is taking effect now. It requires companies to spread deductions for research costs over five years instead of taking them immediately.
Read more on wsj.comAbout this in other media
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Small Businesses Face Big Tax Bills From Research-Deduction Change wsj.com /1 year ago
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