Other
Benefits include: Small Business
Tax Extenders Act of 2012 - Amends the Internal Revenue Code
to extend through 2012:
(1) the
100% exclusion from gross income of gain from the sale or
exchange of certain small business stock;
(2) the
five-year carryback of the general business tax credits of
eligible small businesses;
(3) the
offset against the alternative minimum tax (AMT) of general
business tax credits;
(4) the
reduction (from seven to five years) in the recognition
period for the built-in gains of S corporations;
(5) the
increased expensing allowance for depreciable business
assets, including computer software;
(6) the
special tax rule for long-term contract accounting;
(7) the
increased tax deduction for small business start-up
expenditures; and
(8) the
tax deduction for health insurance premiums in computing
self-employment taxable income. |