A new bill entitled the American Innovation Act of 2026 would boost the current $5,000 upfront deduction for start-up costs to $20,000, with the phase-out of the upfront deduction from the current $50,000 to $120,000. It would also change the rules for net operating losses for startups (called net start-up losses). If enacted these changes would apply to 2026. The measure is supported by the SBE Council and other groups. #IdeaoftheDay
Arriving in time for the tax return deadline, here’s a new eBook created for small business owners!
