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Barbara Weltman

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Tax Credit Proposed for Veteran Entrepreneurs

December 16, 2021 / By Barbara Weltman

A bill called the Veteran Entrepreneur Act of 2021 (H.R. 5920) would create a tax credit for veterans who become franchisees. The credit would be 25% of the franchise fee not exceeding $400,000. So, the top credit could be $100,000. The credit would be reduced if the franchise were not 100% owned by the veteran. There had been a previous bill (H.R. 4433) with the same name introduced earlier this year to require the SBA to create a pilot program to help veterans small business entrepreneurship. Chances of either measure being enacted? Unlikely this year. #IdeaoftheDay

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Small business ideas, business tax news and small business consulting from Barbara Weltman to provide business owners with the information they need to succeed. Visit our small business blog, Idea of The Day®, small business books and articles on small business taxes, small business finance and small business legal advice.

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