Congress may show some bi-partisanship in the lame duck session between now and the holidays by passing the Tax Extenders Act of 2013 that will give businesses a number of tax breaks that expired in 2013, including but not limited to:
- the Sec. 181 deductions for film and tv expenses,
- tax credits for research, employment and new markets,
- the temporary exclusion of 100 percent of gain on certain small business stock,
- reduction in S-corporation recognition period for built-in gains tax and
- certain energy tax credits.
See the Senate bill: https://www.congress.gov/bill/113th-congress/senate-bill/1859/text