In a story on cnnmoney.com, this article outlines the many provisions in the economic stimulus bill which recently was signed into law (part of which helps small businesses).
The bill mainly focuses on unfreezing the credit market to make it easier for small businesses to obtain loans. It also offers equipment purchasing incentives, tax breaks for hiring unemployed military vets and high school drop outs, and reduces capital gains taxes for business investors.
All told, the bill is projected to infuse $21BB into small businesses in the U.S.
THE REAL WORLD RETAILING TAKEAWAY
Anything can help so take advantage while you can.
Take a read over the article carefully, then determine if anything you’re planning for the year may have positive tax implications as a result of the bill. Or, perhaps you’ll change some of your thinking and investment plans in order to take the bigger tax breaks.
No matter what, chart your course, then consult with your finance or tax professional to make sure you’re going to get the biggest bang for the buck.
It’s up to each of us as small business owners to do whatever we can to not only survive, but to help get the economy going again. Spending and investing is a great way to make that happen.