Government and the Little Guy
Why the Obama administration may be good and bad for small businesses
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In addition, Obama has proposed repealing Last-In/First-Out, which is a method of accounting that assumes that assets produced or acquired last are the ones that are used, sold or disposed of first. This method provides both a more conservative measure of the financial condition of a business and the way in which it should be taxed. Kerrigan explained if this method were repealed, the tax bills for many small businesses would increase.
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Melissa Busch
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