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The federal stimulus package and your business

Written by: Rich Sloan June 10th, 2008
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There as a lot of hoopla about how the Federal stimulus package would encourage spending by consumers, but it’s also designed to positively impact small businesses as well. 

www.sba.gov/stimulus is a new site set up to help you understand just how.

Included at the site are:

  1. A fact sheet that provides a clear explanation of the small business tax benefits.
  2. A deprecation calculator that provides an estimate of the first-year depreciation available under the provisions.
  3. An online seminar that provides a brief tutorial summarizing the tax benefits and concludes with the depreciation calculator.   

You might be surprised to learn that the stimulus package contains the following tax incentives for businesses: a 50% bonus depreciation allowance on equipment purchased and placed in service in calendar 2008 and an almost 100% increase in the amount (from $128,000 to $250,000) that a business can expense for equipment purchased and placed in the business tax year beginning in 2008.

Maybe you should buy that laptop after all?

Tags: , , Posted in Accounting and Financial Management, Business Taxes, Running a Business, Strategies & Smarts, Taxes
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Comments

  1. Jackie Marolda     Says:
    June 12th, 2008 at 1:51 pm

    I didn’t know this - and I’ve been contemplating upgrading my laptop computer. This may have seemed like a simple tidbit of information, but is very informative to me.

    As usual - great job getting us small business owners what we need, without spending valuable time digging through bureaucracy.

    Thanks Rich!

    Jackie Marolda

  2. Jay Bilsborrow     Says:
    June 12th, 2008 at 1:59 pm

    If anyone is looking for a good way to invest their stimulus check, internet business expert Scott Fox is offering a free special report called “7 Simple Steps to Stimulate Your Success Online.”

    It describes seven steps anyone can use to start an e-commerce web site of their own with their stimulus check. It’s in the form of a free ebook that you can download online. He has some really good ideas and it’s definitely worth checking out for anyone who wants to get the most out of their stimulus check.

    You can get it free at http://www.scottfox.com/7-simple-steps-stimulus-ebook.html