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SBA Launches Tax Savings Resource Center |
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Written by HBM
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Online Tools Will Educate Small Business Owners on Economic Stimulus Package Benefits
WASHINGTON, DC – The SBA has created an online tax savings resource center to help small businesses understand how they can benefit from the 2008 economic stimulus package signed into law earlier this year. The package includes 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 that a business can expense for equipment purchased and placed in the business tax year beginning in 2008. SBA's new tax savings resource center demonstrates the benefits entrepreneurs can gain from the 2008 economic stimulus package. The center, located on www.sba.gov/stimulus, contains three resources on the package, including a Fact Sheet, Depreciation Calculator, and an Online Seminar (tutorial summarizing the tax benefits and concluding with the depreciation calculator).
Refer to the IRS Web site: http://www.irs.gov/newsroom/article/0,,id=179227,00.html for additional information regarding tax changes.
Previously published in the October 2008 issue of HOME BUSINESS® Magazine, an international publication for the growing and dynamic home-based market. Available on newsstands, in bookstores and chain stores, and via subscriptions ($15.00 for 1 year, six issues). Visit www.homebusinessmag.com
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