Sentences with phrase «existing small business deduction»

Companies are taxed federally at a special preferred rate of 10.5 per cent on their first $ 500,000 of corporate income through the existing small business deduction.

Companies are taxed federally at a special preferred rate of 10.5 per cent on their first $ 500,000 of corporate income through the existing small business deduction.

Companies are taxed federally at a special preferred rate of 10.5 % on their first $ 500,000 of corporate income through the existing small business deduction.

Not exact matches

Doubles Existing Deductions for Start - up Costs for New Small Businesses: New start - ups typically face a number of substantial expenses in their first year they get off the ground, such as permits, consulting costs, expenses in finding clients and custoemrs and other needs, but are limited in the amount of expenses they can deduct that year on their taxes.

These deductions exist for businesses of all sizes, including small businesses, even sole proprietorships.

Under existing legislation, the small business deduction is available to corporations that earn business income up to $ 500,000.