Search Results: keywords:"net operating losses"

  • H. R. 1778 — To amend the Internal Revenue Code of 1986 to promote new business innovation, and for other purposes.
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    Status:Introduced in House
    Words:3,065

    The proposed bill, titled the “American Innovation Act of 2025,” seeks to amend the Internal Revenue Code of 1986 to encourage new business innovation. It introduces changes to simplify and expand deductions for start-up and organizational expenditures, allowing businesses to deduct a portion...

    Simple Explanation

    The "American Innovation Act of 2025" wants to help new businesses by making it easier for them to save money on their taxes when they start. It lets them take some costs off their taxes right away, and makes sure they don't lose important tax benefits, even if they change owners.

  • S. 5204 — To amend the Internal Revenue Code of 1986 to increase the limitations for deductible new business expenditures, to consolidate provisions for start-up and organizational expenditures, and for other purposes.
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    Status:Introduced in Senate
    Words:1,512

    The Tax Relief for New Businesses Act (S. 5204) amends the Internal Revenue Code to make it easier for new businesses to manage their initial costs. It consolidates the rules regarding start-up and organizational expenses, allowing these expenses to be deducted together. The...

    Simple Explanation

    The Tax Relief for New Businesses Act wants to help new businesses by letting them count more of their starting costs when figuring out their taxes, which means they could save more money at the beginning and use it to help the business grow. It's like saying they can count more of the things they buy first to make their business stronger and less worried about money.