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Keys to Reducing Financial Tax Burdens on SMBs

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With $110 billion in annual payroll, SMB IT businesses often find themselves diverting needed resources away from core business – restricting growth and innovation. Reducing the financial burden on these firms via tax reform would promote additional growth and opportunities.

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Keys to Reducing Financial Tax Burdens on SMBs

  1. 1. Keys to Reducing Financial Tax Burdens on SMBs Sources: CompTIA Whitepaper, Smart Tax Reforms for the IT Industry Learn more about how CompTIA champions the SMB Tech Entrepreneur at TechVoice.org /Issues/smbtech. CompTIA Research and Market Intelligence provides timely, relevant data and insights for the IT industry. CompTIA has a library of over 100 research reports and whitepapers, with new material published each month. Using rigorous research techniques, CompTIA collects data from tens of thousands of end-users and IT companies on a wide range of issues covering tech trends, channel dynamics and the IT workforce. CompTIA members get this research as part of their member benefits. With $110 billion in annual payroll, SMB IT businesses often find themselves diverting needed resources away from core business – restricting growth and innovation. Reducing the financial burden on these firms via tax reform would promote additional growth and opportunities. 48% of IT execs say U.S. tax policy is too complex and burdensome. 1 2 3 4 Simplify the tax code. Reduce the tax burden on the SMB IT industry. Incentivize growth and innovation. In the emerging regime of interstate taxation, IT and tech industries can be unfairly impacted. Protect SMB IT from new interstate tax compliance burdens. 67%of IT services firms pay taxes at individual rates as a sole proprietor or pass-through entity, so lowering the corporate tax rates will not directly benefit these businesses. The current business equipment expensing limitation of $500k/year will drop to just $25k/year after 2013. 1234 123412 1234 13241234 123412 1234 1324 $500,000 Limit 1234 123412 1234 13241234 123412 1234 1324 $25,000 Limit

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