If you’re wondering how the economic stimulus package can help you grow and expand your business, check out SBA’s new tax savings resource center.
The website includes a fact sheet with a clear explanation of small business tax benefits gained from the package, in addition to a depreciation calculator and an online seminar.
The economic stimulus package includes the following tax incentives for businesses:
- A 50 percent bonus depreciation allowance on equipment purchased and placed in service in calendar 2008.
- An almost 100 percent increase in the amount that a business can expense for equipment purchased and placed in the business tax year beginning in 2008 (from $128,000 to $250,000).
“The stimulus package is designed to spur the economy by putting money back into the pockets of American workers and encouraging small businesses to invest and expand,” SBA acting administrator Jovita Carranza said.
“However, many small-business owners are unaware of how it can boost their bottom line. In the roundtables I held with dozens of small-business owners last week on tax policy, many were amazed to learn how much their companies could benefit from the temporary tax incentives in the package.”
Photo by svilen001.
Economic Stimulus Benefits for Small Biz
June 24, 2008 by Rich | 4 Comments
In Customers, Money, Small Biz
Curt on June 24th, 2008 at 7:11 am
This is great. I’m going to have to read move about this and talk to be accountant to see how I can take advantage of this.
B Smith @ Wealth and Wisdom on June 24th, 2008 at 10:19 am
Great post. It’s great to hear how the economic stimulus package impacts our businesses beyond the checks that the governments is sending out.
cassy on June 24th, 2008 at 6:49 pm
Its great that there are companies who want to help and assist the small businesses to expand.I hope our government here wont make many laws that can affect our economy because we already had so many laws that are not properly interpreted and this is sometimes creates conflicts especially those who have small businesses.
SBSTV on June 25th, 2008 at 6:35 am
WOW~
Very lovely post.