Amendment provides tax breaks for small business.

• Position: HR News

The Senate Finance Committee unanimously approved an amendment to H.R. 2, the Fair Minimum Wage Act of 2007, that creates tax breaks for small businesses that are intended to balance the cost of an increased minimum wage:

* One-year extension of increased small-business expensing under Sec. 179;

* Extension and expansion of the 15-year depreciation of leasehold improvements to include business owners that own their own stores;

* Increase the threshold (to $10 million) for businesses allowed to use the cash method of accounting; and

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