The federal stimulus package and your business

Latest posts by Rich Sloan (see all)

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?

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