|
Trump defends ‘Anti-Weaponization Fund' amid GOP blowup PoliticoTrump, who claimed he "wasn't involved" in creation of "anti-weaponization" fund, now says he allowed it CBS NewsTrump's $1.8B settlement: Fact-checking his claim the U.S. created similar funds 'numerous' times WRALOpinion | There's a Way to Stop Trump's I.R.S. Slush Fund The New York Times
|
RELATED ARTICLES | | |
|
The sale of the large-format movie chain could bring interest from tech firms, media companies and even sovereign wealth funds, analysts say
|
|
Nicki Minaj Pops Up at Elon Musk's Attempted SpaceX Rocket Launch TMZElon Musk Welcomes Nicki Minaj's Visit To Starbase Ahead Of SpaceX's Starship Launch [WATCH] Mashable IndiaNicki Minaj makes shock appearance at Starship launch to deliver shoutout to Elon Musk UNILAD TechNicki Minaj Shouts Out Elon Musk During SpaceX Launch Event HotNewHipHopNicki Minaj makes surpris
|
|
The retail giant's shares dropped 7% amid fears consumers will spend less now that tax refund season has ended.
|
|
There's no way to sugarcoat this: Small and midsize businesses should be scared to death about the consequences of the Inflation Reduction Act. Unless they provide goods and services to the green energy industry, the law's unforeseen consequences could increase their operating expenses in two ways. Here's what to expect — and how to prepare.
SEE MORE Audit-Proof Your Small Business
The Inflation Reduction Act is essentially a climate change law with some health care benefits. While the new legislation doesn't include any direct tax increases on small and midsize businesses, some of its provisions have the potential to raise costs for these companies significantly.
First Reason Why Cost of Business Could Be Going Up
For one, your chances of being audited may be going up. The new bill substantially expands the Internal Revenue Service's budget: More than half of the $80 billion increase in the IRS budget over 10 years will be used to beef up enforcement through new technology and new hires. That means more audits for companies that are the least able to financially manage them. I worry for businesses that gross $5 million or less since they usually don't have excess funds to pay a lawyer $50,000 to fight the IRS if their matter proceeds to court.
In a letter to the Senate, the agency's commissioner said, "These resources are absolutely not about increasing audit scrutiny on small businesses or middle-income Americans." Even so, with the hire of new auditors, it's likely that people with little or
|
|
