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.