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The Top 10 Review and Reform Rules

SBA pinpoints top 10 reforms.

by on
in Small Business Tax,Small Business Tax Deduction Strategies

The U.S. Small Business Administration (SBA) Office of Advocacy has announced its “Top 10 Rules for Review and Reform” for 2008. The Top 10 list is compiled from more than 80 rules nominated by small business owners and their representatives as part of the Regulatory Review and Reform (3R) initiative. These recommendations have been transmitted to the appropriate federal agencies for action. As expected, the recommendations include several environmental proposals, but one key federal income tax item made the list: simplification of the home-office business deduction. The change would permit a standard deduction for home-based businesses, which currently constitute approximately 53% of all small businesses. For more information on the Top 10 list, visit www.sba.gov/advo or call (202) 205-6533.

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