Presidential Election Issues Affect Small Business | AccountingWEB

Presidential Election Issues Affect Small Business

As a CPA working in practice or industry, you know the impact a presidential election can have on your clients or employer. The views of the candidates on health care, taxation and other issues can mean a boon or bust to millions of our nation's small businesses.

Overall, analysts claim Bush is more of a friend to small business based on his views related to Internet sales tax (against) and a repeal of the inheritance tax (for). In brief, Bush wants to repeal the estate tax and issue an income tax reduction for all classes.

The Bush plan would help small business because most owners pay personal tax instead of corporate income tax.

On health care, Bush is currently supporting an effort to participate in association health plans; businesses benefit from larger buying pools by crossing state lines and joining together. Although Gore is an advocate of the Patient's Bill of Rights, analysts say the bill does not increase access to health care and increases the overall costs.

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