Taxes

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  • Small Business Tax Increases on January 1, 2013
    Posted in In Case You Missed It on July 19, 2012 | Preview rr
    Tags: Taxes

    How Will Taxmageddon Impact Your Small Business? Without Congressional action, a large number of tax provisions will expire on December 31, 2012. Many of these expiring provisions were enacted in tax legislation in 2001 and 2003 and reduced marginal income tax rates, marriage penalty rates, and the estate tax. President Obama's plan to expire tax rates for all income over $200,000 for individuals and $250,000 for married couples would raise taxes on thousands of small businesses whose companies... Read more

  • New Study Proves Fiscal Cliff Will Harm Small Business Job Creation
    Posted in Press Releases on July 17, 2012 | Preview rr
    Tags: Taxes

    House Small Business Committee Chairman Sam Graves (R-MO) today issued the following statement on a new Ernst and Young study that shows the president’s small business tax hike will cost our economy jobs: “The evidence continues to mount against the President’s tax plan. This week’s U.S. Chamber of Commerce small business survey shows that 90 percent of small business owners believe the impending fiscal cliff is contributing to economic uncertainty, and almost 60 percent believe that the expirat... Read more

  • Fox News Highlights Small Business Hearing on Death Tax
    Posted in Press Releases on June 7, 2012 | Preview rr
    Tags: Taxes

    Report Points Out Yet Another Tax Burden That Awaits Small Businesses At The Year's End Last night, Fox News' "On The Record With Greta" show highlighted last week's Small Business Subcommittee hearing to examine the impact of the estate tax on small businesses and the economy. The current estate tax law rate is 35%, with an exemption of $5 million. If Congress does not act on this policy, the estate tax will revert to pre-2001 levels of a 55% rate and a $1 million exemption on January 1, 2013. ... Read more

  • Chairman Graves Statement on May Jobs Report
    Posted in Press Releases on June 1, 2012 | Preview rr
    Tags: Taxes

    House Small Business Committee Chairman Sam Graves (R-MO) today issued the following statement after the U.S. Department of Labor reported that only 69,000 jobs were created in May, and the unemployment rate rose to 8.2 percent: “This disappointing unemployment report should serve as a strong message to the President that his policies are simply not working. The private sector is under a tremendous amount of pressure due to uncertainty because federal regulations are at an all-time high, a barra... Read more

  • Subcommittee Examines Negative Effect of Death Tax on Family Companies
    Posted in Press Releases on May 31, 2012 | Preview rr
    Tags: Taxes

    House Small Business Subcommittee on Economic Growth, Tax and Access to Capital Chairman Joe Walsh (R-IL) today held a hearing to examine the impact of the estate tax on small businesses and the economy. The estate tax, also known as the death tax, is frequently cited as one of the most important issues for small businesses. Without Congressional action, the current federal estate tax rates will expire on December 31, 2012, and revert to the higher pre-2001 levels. “During our sluggish economic ... Read more

  • Chairman Graves in the Omaha World-Herald: Ease Tax Burden on Small Businesses
    Posted in Op-Eds on May 21, 2012 | Preview rr
    Tags: Taxes

    Ease Tax Burden on Small Businesses By Chairman Sam Graves In 1789, Benjamin Franklin famously wrote, “In the world, nothing can be said to be certain except death and taxes.” As many small-business owners recover from the frustration of completing their tax returns last month, some may now have to prepare for a more grim possibility: the death of their business by taxes. Small businesses are more sensitive to high tax rates and changes in the tax code, since they sometimes don’t have the staff... Read more

  • Graves Floor Speech on H.R. 9, the Small Business Tax Deduction Act
    Posted in Press Releases on April 19, 2012 | Preview rr
    Tags: Taxes

    Chairman Sam Graves Floor Speech on H.R. 9, the Small Business Tax Deduction Act April 19, 2012 CLICK HERE to view the video. (Remarks as Prepared) Tax season reminds us that small businesses are disproportionately affected by tax compliance and high tax rates. The Small Business Administration reports that the average tax compliance cost per employee for small businesses is almost three times the cost of larger firms. And according to the NFIB, tax issues are the single most significant set of ... Read more

  • Graves Applauds Passage of Small Business Tax Deduction Act
    Posted in Press Releases on April 19, 2012 | Preview rr
    Tags: Taxes

    House Small Business Committee Chairman Sam Graves (R-MO) today issued the following statement on the House passage of the Small Business Tax Deduction Act: “There is no debate about whether America’s small businesses are the engines of job creation. But to build a stronger economic recovery, we must help small businesses by addressing our debt crisis, pulling back on unnecessary federal regulations, ending any threats of tax increases, and providing substantive tax relief with legislation like ... Read more

  • Graves Holds Hearing On The Flood Of Upcoming Taxes On Small Business
    Posted in Press Releases on April 18, 2012 | Preview rr
    Tags: Taxes

    House Small Business Committee Chairman Sam Graves (R-MO) today held a full Committee hearing to examine upcoming new taxes on small businesses and their economic effect. “Tax season reminds us that small businesses are disproportionately affected by tax compliance, therefore slowing growth and hiring,” said Chairman Sam Graves. “Today’s testimony supported the notion that higher tax rates and tax uncertainty can mean that small firms have less capital to create jobs and invest back in their com... Read more

  • Graves Joins House Leadership to Introduce Small Business Tax Cut Act
    Posted in Press Releases on March 21, 2012 | Preview rr
    Tags: Taxes

    WASHINGTON, DC— House Small Business Committee Chairman Sam Graves (R-MO) today joined House Majority Leader Eric Cantor (R-VA), House Majority Whip Kevin McCarthy (R-CA) and other House Republican colleagues at a press conference to unveil the 20 percent Small Business Tax Cut Act this afternoon. “[T]he majority of jobs in this country are created by small businesses, and if small businesses aren’t moving forward then we are not going to see the job creation that we need, it’s just plain simple... Read more