IT industry could be blindsided by fiscal cliff


Cliff house Giant Camera

Cliff house Giant Camera
(Photo credit: davidyuweb)

By Colin Neagle – As Congress continues to debate how it should prevent the federal government and national economy from plummeting off the so-called fiscal cliff at the end of the year, many technology companies – particularly smaller businesses and startups – may be unprepared for the ensuing changes.

Unfortunately for them, it may be too late to do anything about it.

For IT businesses, the fiscal cliff could mean higher taxes on research and experimentation than were imposed prior to 2011, a $114,000 decrease in tax provisions allowing small businesses to write off asset-related expenses, and the disappearance of a bonus first-year depreciation on expenses that stood at 100% as recently as 2011. More information on the impact of the fiscal cliff policy changes on the IT industry is available here. more> http://tinyurl.com/bydfghk

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