“We are looking for certainty and consistency, not back and forth”, “ said Stauber, whose district extends from the northern suburbs of twin cities on the Canadian border, including the iron range. “It is difficult for a small business to know if it will invest or not.”
Wendy Rychley, tax accountant in Forest Lake, said the complications of the tax law overwhelmed a large part of her small business clients.
“I see the chaos that was created due to the constant fluctuations of the tax code as we are confronted now,” she said.
Curiously, tax experts said it might not end with the Republican bill. The legislation will mark the return of the depreciation of the premium, which allows the purchase of commercial assets of a tractor from an airplane. Republicans would also expand the deduction of skilled business income, a boon with small businesses.
But none of this would reduce the documents of income preparers.
“I understand that this is a good subject of discussion, that this (package) will simplify taxes,” said Kyle Pomerleau, a principal researcher at the American Enterprise Institute in Washington. “But there is no evidence that it will be the case.”