REGULATIONS TO WATCH
1997 was a pretty good year for small business in Washington. Some things to watch in 1998:
TAXES: A penalty waiver for not filing electronically expires July 1, and is unlikely to be extended. In June a moratorium expires on an IRS rule requiring limited partners to pay employment taxes on partnership profits. The Hill will likely kick the matter back to the IRS for a rewrite.
HEALTH CARE: Small-business advocates will push to make health insurance premiums for the self-employed fully deductible before 2007, as scheduled, but the cost in revenues makes it a tough sell.
INDEPENDENT CONTRACTORS: This year, proposed regs to make it easier to declare independent status died. Backers will try again, but labor and the administration are firmly opposed.
EDITED BY EDITH HILL UPDIKE
Updated Dec. 11, 1997 by bwwebmaster
Copyright 1997, Bloomberg L.P.