On November 10, 2022 Gusto joined with other small business innovation leaders to urge Congressional action on H.R. 1304/S. 749, critical tax legislation impacting small businesses, entrepreneurs, and innovators nationwide. This legislation is vital to restoring the ability for small businesses to immediately deduct research & development (R&D) investments – ensuring that R&D remains an effective engine for American innovation and economic growth.
Recent Gusto data show that the R&D Tax Credit plays a significant role in how small and medium sized businesses (SMBs) financially plan. During this precarious economic time, Congress needs to act to ensure SMBs have the resources needed to avoid painful decisions to reduce staff and/or investment.
Read the full letter here: