Startup Spark

New site can help you with the new tax incentives

by ShannonCherry on June 18th, 2008

The Small Business Administration launched a new online resource center to help small business owners understand the tax incentives in the 2008 economic stimulus package.

The stimulus package, signed into law earlier this year, includes an increase in the deduction of equipment purchases to $250,000, from $128,000. In addition, businesses can deduct up to 50 percent of the cost of certain equipment purchased this year.

At http://www.sba.gov/stimulus, you’ll find additional information about explanation of the tax benefits, use an online calculator to estimate the first-year depreciation of their equipment and listen to a tutorial that summarizes the incentives.

Will you be using the incentives? Or will you be holding tight on new purchases?

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POSTED IN: Business, Startup Resources