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Economic Recovery

Today's Must Read
Watched by approximately 48 million people on TV and another 1.3 million via the White House's online feed, President Obama's first State of the Union address stressed the importance of collective responsibility. In...
Blog Post
Keith Girard
There is reason for optimism about the coming year if Congress acts quickly on a jobs bill.
Blog Post
My last post included information about new tax laws that impact your 2009 business tax return, but the 2010 tax year also brings with it several changes to business tax law. Tax laws...
Blog Post
Gross domestic product is expected to break out of its slump and grow this year.
article
Keith Girard
The economic recovery is so fragile, a massive tax cut is needed to jump-start consumer spending.
Blog Post
What is your reason for starting a home based business? Are you in it for the long haul or are you just looking for something temporary?...
Blog Post
By Diana Ransom |  Filed In: Consumer Spending and Economic Indicators
The price of gold, real personal consumption and other indicators that will affect your planning in 2010.
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By Sara Wilson |  Filed In: Franchising Your Business and Franchises
Despite the financial challenges, many entrepreneurs are franchising their businesses, and the experts are cheering them on.
article
Marco Carbajo
As we come to the end of 2009 and prepare to celebrate the New Year with hopes of recovery, growth, and prosperity small business owners like you need to start a business credit...
Blog Post
Keith Girard
When the bell tolls on 2009, the franchise industry will close the books on one of the worst years in its history. Will 2010 be any better?
Blog Post
How is your business doing? Have you conducted a business review lately? As the year draws to a close, there is no better time to start planning again - and this invariably means...
Blog Post
Use these ideas to rev up your revenues and profits.
Blog Post
Tim Devaney - Tom Stein
House employment package draws fire from small-business community.
Blog Post
By Linda Keith |  Filed In: Recession and Economic Conditions
Show customers, lenders and vendors that your business is still flying high.
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By Dina Dwyer-Owens |  Filed In: Franchises
2009 was a tough year for the franchise industry. What does 2010 hold in store? Dina Dwyer-Owens, chairwoman of the IFA, shares her observations
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Miranda Marquit
A recently survey found that we might actually be headed toward a double dip recession.
Blog Post
The best way for President Obama to help small businesses is to enact initiatives that encourage consumers to start spending again.
Blog Post
By Don Sadler |  Filed In: Finances and Manage
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By  | Filed In: Corporate Tax and Tax Law
Numerous tax law changes that have been in effect during 2009 will affect many personal and business taxpayers. Here is a summary of the most critical ones affecting both individual and business taxpayers.
Blog Post
From President Obama to Hillary Clinton, politicians are pushing entrepreneurship as a way to global recovery and peace. But why?
article

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Business Glossary

Definitions for: Economic Recovery Tax Act
Economic Recovery Tax Act

federal law enacted in 1981 that cut taxes across-the-board, modified the depreciation tables used by businesses in writing off capital equipment, and indexed tax brackets to the inflation rate. The act reduced the individual tax rate by 23%, cut the corporate capital gains tax to a maximum of 20%, and introduced the accelerated cost recovery system used by businesses in calculating accelerated depreciation.

To encourage individual savings, the act made Individual Retirement Account (IRA) available to anyone earning regular income, and introduced the all savers certificate, a one-year savings certificate free of federal taxes. (IRA eligibility rules have since been modified substantially by the tax reform act of 1986, eliminating the tax deduction for IRA contributions of individuals covered by a corporate pension who earn over a specified amount.)

The act also reduced the federal tax on estate and gift taxes, making the first $600,000 tax free after 1987, and allowed an unlimited marital deduction on property transfers as provided by a will.

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