Taxes That Aren't (Too) Taxing

Self Made: NASE's Blog

Blog With Us

Welcome to the Self Made. This is a blog focused primarily on the self-employed and micro-business and full of fantastic posts by not only our team of experts but by YOU!  We realize that there are many ways to help the small businesses out there which is why we invite other business minded individuals to post here and help the rest of the community as well.

Taxes That Aren't (Too) Taxing

Mar 20, 2009

Posted by Kristin Oberlander - Since my last post, folks on Capitol Hill have introduced some great legislation for small and micro-businesses:

The Equity for Our Nation's Self-Employed Act (HR 1470), introduced in the House of Representatives by Reps. Ron Kind (D-Wis.), Wally Herger (R-Calif.), Suzanne M. Kosmas (D-Fla.) and David G. Reichert (R-Wash.), would eliminate an inequity in the tax code that inhibits the self-employed from receiving a full deduction for health insurance costs. Click here for more detail on the NASE’s position.

Legislation introduced last week by Congressmen John M. McHugh (R- N.Y.)  and Kurt Schrader (D-OR) would make it easier for home businesses to deduct office expenses by offering a $1,500 standard deduction to eligible taxpayers. The Home Office Deduction Simplification Act (HR 1509) would also require that the amount be indexed for inflation.

Both of these bills are promising legislation and I’d venture to say that they have a reasonable chance of being approved.  And why is that? Well, they involve small and simple changes to the tax code that will help A LOT (millions and millions) of people. In a town where important reform packages often fall victim to partisan sniping, little tweaks to the tax code and quantifiable results say a lot.

To read into the specifics of each bill, visit the “mother of all legislative search engines,” THOMAS at the Library of Congress.

Keep updated on the latest small business legislative news by signing up for my weekly E-newsletter, Washington Watch.

The opinions expressed in our published works are those of the author(s) and do not necessarily reflect the opinions of the National Association for the Self-Employed or its members.

Courtesy of