Business Expenses

Federal
US Congress 116th Congress

Economic Mobility Act of 2019 [HB-3300] [Taxes ] [Budget and Spending ] [Children and Youth ] [Labor, Jobs, Employment ] [Small Business ] [Family-Related Legislation ] [Poverty ] [Economic Development ]
Modifies provisions relating to the earned income tax credit, the child tax credit, and the child and dependent care tax credit. Among other things, it increases the earned income tax credit in 2019 and 2020 for individuals with no qualifying children, makes the child and dependent care tax credits fully refundable during the same period, increases the child tax credit for children under the age of 4, increases the exclusion from employee gross income for employer-provided dependent care assistance, and provides for payments to U.S. possessions (continued...)

  

Sponsored by: Rep. Donald Norcross Reported (amended) By The Committee On Ways And Means. H. Rept. 116-384. on 02/04/2020

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Federal
US Congress 116th Congress

Performing Artist Tax Parity Act of 2019 [HB-3121] [Taxes ] [Arts and Culture ] [Labor, Jobs, Employment ]
Amends the Internal Revenue Code, with respect to the above-the-line deduction of expenses of performing artist employees, to increase to $100,000 ($200,000 for joint returns) the adjusted gross income limitation for calculating the phaseout of the deduction. The increased amount is adjusted for inflation for taxable years beginning after 2019.

  

Sponsored by: Rep. Ted Lieu Introduced In House on 06/05/2019

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Federal
US Congress 116th Congress

Career Advancement through New Skills Act [HB-3037] [Taxes ] [Labor, Jobs, Employment ] [Education ] [Small Business ] [Economic Development ]
Allows a tax credit for employers that is equal to 25% of the qualified education and training expenses paid or incurred for employees. The expenses taken into account for the credit may not exceed $5,000 with respect to any employee for any taxable year. "Qualified education and training expenses" must be for a program specifically designed to maintain or improve skills of the employee which are necessary or useful either (1) in the employee's current position with the employer, or (2) in another position with the employer to which the employer (continued...)

  

Sponsored by: Rep. Mike Thompson Introduced In House on 05/28/2019

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Federal
US Congress 116th Congress

Steel Industry Preservation Act [S.1627] [Taxes ] [Energy ] [Manufacturing ] [Trade ] [Small Business ]
Extends and modifies the production tax credit for steel industry fuel. (Under current law, steel industry fuel is a fuel which is: (1) produced through a process of liquefying coal waste sludge and distributing it on coal, and (2) used as a feedstock for the manufacture of coke.) The bill modifies the tax credit for steel industry fuel to extend the credit period and the placed-in-service date, revise the definition of "steel industry fuel" to allow blends of coal and petroleum coke or other coke feedstock in the fuel, set forth ownership requirements, (continued...)

  

Sponsored by: Sen. Robert Casey Read Twice And Referred To The Committee On Finance. on 05/23/2019

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Federal
US Congress 116th Congress

Steel Industry Preservation Act [HB-2993] [Taxes ] [Energy ] [Manufacturing ] [Trade ] [Budget and Spending ] [Small Business ] [Economic Development ]
Extends and modifies the production tax credit for steel industry fuel. (Under current law, steel industry fuel is a fuel which is: (1) produced through a process of liquefying coal waste sludge and distributing it on coal, and (2) used as a feedstock for the manufacture of coke.) The bill modifies the tax credit for steel industry fuel to extend the credit period and the placed-in-service date, revise the definition of "steel industry fuel" to allow blends of coal and petroleum coke or other coke feedstock in the fuel, set forth ownership requirements, (continued...)

  

Sponsored by: Rep. Daniel Kildee Introduced In House on 05/23/2019

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US Congress 116th Congress

Superfund Enhancement Act of 2019 [HB-2882] [Environmental ] [Small Business ] [Taxes ] [Disaster Relief ] [Economic Development ]
Reinstates and increases the Hazardous Substance Superfund financing rate from 9.7 cents to 15.8 cents and allows certain small businesses to expense up to $10,000 of the costs of relocating a trade or business carried on in a location on or near a site proposed for inclusion on the national priorities list under the Comprehensive Environmental Response, Compensation, and Liability Act of 1980. The bill directs the Small Business Administration (SBA) to make disaster loans to small business concerns whose principal place of business is located on (continued...)

  

Sponsored by: Rep. Raul Grijalva Introduced In House on 05/21/2019

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Federal
US Congress 116th Congress

Exercise and Fitness for All Act [S.1244] [Disabilities ] [Healthcare ] [Public Health ] [Consumer Protection ] [Small Business ] [Taxes ] [Transportation and Motor Vehicles ]
Requires the Architectural and Transportation Barriers Compliance Board (Access Board) to develop guidelines for exercise or fitness service providers regarding the provision of accessible exercise or fitness equipment, and extends the disabled access tax credit to providers that implement such guidelines. The Access Board must subsequently promulgate regulations, consistent with the guidelines, requiring that exercise or fitness classes and instruction provided by fitness providers are accessible to people with disabilities. The regulations also (continued...)

  

Sponsored by: Sen. Robert Casey Read Twice And Referred To The Committee On Finance. on 04/30/2019

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US Congress 116th Congress

Tax Fairness for Workers Act [S.1026] [Taxes ] [Labor, Jobs, Employment ]
Allows an above-the-line tax deduction for union dues and expenses. (An above-the-line deduction is subtracted from gross income and is available whether or not a taxpayer itemizes other deductions.) The bill also reinstates the miscellaneous itemized tax deduction for unreimbursed expenses attributable to the performance of services as an employee. (Under current law, all miscellaneous itemized deductions are suspended through 2025.)

  

Sponsored by: Sen. Robert Casey Read Twice And Referred To The Committee On Finance. on 04/04/2019

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Federal
US Congress 116th Congress

Tax Fairness for Workers Act [HB-2103] [Taxes ] [Labor, Jobs, Employment ]
Allows an above-the-line tax deduction for union dues and expenses. (An above-the-line deduction is subtracted from gross income and is available whether or not a taxpayer itemizes other deductions.) The bill also reinstates the miscellaneous itemized tax deduction for unreimbursed expenses attributable to the performance of services as an employee. (Under current law, all miscellaneous itemized deductions are suspended through 2025.)

  

Sponsored by: Rep. Eleanor Norton Introduced In House on 04/04/2019

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Federal
US Congress 116th Congress

Middle Class Tax Deduction Act of 2019 [HB-1867] [Taxes ] [Budget and Spending ]
Reinstates certain miscellaneous itemized tax deductions (e.g., deductions for unreimbursed employee expenses) as allowable deductions. Presently, the deductions are suspended through 2025. The bill reinstates the limitation on itemized tax deductions for an individual whose adjusted gross income exceeds a specified amount. Presently, the limitation is suspended through 2025.

  

Sponsored by: Rep. Eleanor Norton Introduced In House on 03/25/2019

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Federal
US Congress 116th Congress

To amend the Internal Revenue Code of 1986 to repeal the inclusion of certain fringe benefit expenses for which a deduction is disallowed in unrelated business taxable income. [HB-1545] [Taxes ] [Budget and Spending ] [Small Business ]
Modifies the requirements for determining the unrelated business taxable income of tax-exempt organizations. The bill repeals a provision that requires unrelated business taxable income to be increased by the amount of expenses paid or incurred by a tax-exempt organization for certain fringe benefits for which a tax deduction is not allowed, including benefits relating to transportation, parking, or an on-premises athletic facility.

  

Sponsored by: Rep. Mike Johnson Introduced In House on 03/05/2019

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Federal
US Congress 116th Congress

LIFT for Charities Act Lessen Impediments From Taxes for Charities Act [S.632] [Taxes ] [Nonprofit ]
Modifies the requirements for determining the unrelated business taxable income of tax-exempt organizations. The bill repeals a provision that requires unrelated business taxable income to be increased by the amount of expenses paid or incurred by a tax-exempt organization for certain fringe benefits for which a tax deduction is not allowed, including benefits relating to transportation, parking, or an on-premises athletic facility.

  

Sponsored by: Sen. Susan Collins Read Twice And Referred To The Committee On Finance. on 02/28/2019

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Federal
US Congress 116th Congress

Tax Extender and Disaster Relief Act of 2019 [S.617] [Taxes ] [Disaster Relief ] [Retirement ]
Extends certain tax credits and deductions expiring in 2018 and 2019, and provides disaster tax relief, including penalty-free withdrawal of retirement funds for disaster expenses.

  

Sponsored by: Sen. Chuck Grassley Read The Second Time. Placed On Senate Legislative Calendar Under General Orders. Calendar No. 28. on 03/04/2019

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Federal
US Congress 116th Congress

Competitive DRUGS Act of 2019 Competitive Deals Resulting in Unleashed Generics and Savings Act of 2019 [HB-1344] [Pharmaceuticals ] [Consumer Protection ] [Healthcare ]
To prohibit brand name drug companies from compensating generic drug companies to delay the entry of a generic drug into the market, and for other purposes.

  

Sponsored by: Rep. Raul Grijalva Referred To The Subcommittee On Antitrust, Commercial, And Administrative Law. on 03/25/2019

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Federal
US Congress 116th Congress

Stop the Tax Hike on Charities and Places of Worship Act [S.501] [Taxes ] [Nonprofit ] [Budget and Spending ] [Religion ]
Modifies the requirements for determining the unrelated business taxable income of tax-exempt organizations. The bill repeals a provision that requires unrelated business taxable income to be increased by the amount of expenses paid or incurred by a tax-exempt organization for certain fringe benefits for which a tax deduction is not allowed, including benefits relating to transportation, parking, or an on-premises athletic facility. The bill also increases the corporate income tax rate from 21% to 22%.

  

Sponsored by: Sen. Sherrod Brown Read Twice And Referred To The Committee On Finance. on 02/14/2019

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Federal
US Congress 116th Congress

Stop the Tax Hike on Charities and Places of Worship Act [HB-1223] [Taxes ] [Nonprofit ] [Budget and Spending ] [Religion ]
Modifies the requirements for determining the unrelated business taxable income of tax-exempt organizations. The bill repeals a provision that requires unrelated business taxable income to be increased by the amount of expenses paid or incurred by a tax-exempt organization for certain fringe benefits for which a tax deduction is not allowed, including benefits relating to transportation, parking, or an on-premises athletic facility. The bill also increases the corporate income tax rate from 21% to 21.03%.

  

Sponsored by: Rep. Barbara Lee Introduced In House on 02/14/2019

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Federal
US Congress 116th Congress

Craft Beverage Modernization and Tax Reform Act of 2019 [HB-1175] [Alcoholic Beverages ] [Taxes ] [Budget and Spending ]
Modifies the tax treatment of certain alcoholic beverages to exclude the aging period from the production period for beer, wine, or distilled spirits for purposes of determining whether a taxpayer can expense, rather than capitalize, interest costs paid or incurred during the production period; reduce excise tax rates on beer and distilled spirits; permit the transfer of beer between bonded facilities without payment of tax; increase the amount of the small wine producer tax credit and expand the categories of producers covered by such credit; allow (continued...)

  

Sponsored by: Rep. Alexander Mooney Introduced In House on 02/13/2019

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Federal
US Congress 116th Congress

Responsibly Addressing the Marijuana Policy Gap Act of 2019 [S.421] [Cannabis ] [Finance ] [Healthcare ] [Veterans ] [Crime ] [Taxes ] [Criminal Justice ] [Housing ] [Immigration ] [Education ] [Law Enforcement ]
Removes federal restrictions on, and creates new protections for, marijuana-related conduct and activities that are authorized by state or tribal law (i.e., state-authorized). Among other things, the bill does the following: eliminates regulatory controls and administrative, civil, and criminal penalties under the Controlled Substances Act for state-authorized marijuana-related activities; allows businesses that sell marijuana in compliance with state or tribal law to claim certain federal tax credits and deductions; eliminates restrictions on print (continued...)

  

Sponsored by: Sen. Ron Wyden Read Twice And Referred To The Committee On Finance. on 02/07/2019

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Federal
US Congress 116th Congress

Craft Beverage Modernization and Tax Reform Act of 2019 [S.362] [Alcoholic Beverages ] [Taxes ] [Budget and Spending ]
Modifies the tax treatment of certain alcoholic beverages to exclude the aging period from the production period for beer, wine, or distilled spirits for purposes of determining whether a taxpayer can expense, rather than capitalize, interest costs paid or incurred during the production period; reduce excise tax rates on beer and distilled spirits; permit the transfer of beer between bonded facilities without payment of tax; increase the amount of the small wine producer tax credit and expand the categories of producers covered by such credit; allow (continued...)

  

Sponsored by: Sen. Robert Casey Read Twice And Referred To The Committee On Finance. on 02/06/2019

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Federal
US Congress 116th Congress

End Taxpayer Subsidies for Drug Ads Act [S.73] [Pharmaceuticals ] [Taxes ] [Healthcare ] [Consumer Protection ]
Prohibits tax deductions for expenses relating to direct-to-consumer advertising of prescription drugs. "Direct-to-consumer advertising" is any dissemination, by or on behalf of a sponsor of a prescription drug product, of an advertisement that is (1) in regard to the drug product, and (2) primarily targeted to the general public.

  

Sponsored by: Sen. Jack Reed Read Twice And Referred To The Committee On Finance. on 01/10/2019

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