How The New Stimulus Plan Could Affect Your Small Business

It seems like everyone but you and I are getting a bailout these days. However, President Obama signed into law “The American Recovery and Reinvestment Act of 2009″ and it contains numerous tax provisions aimed at small businesses.

SBA Advocacy Chief Economist Chad Moutray covers the small business impact of the stimulus package at a high level on the SBA’s Small Business Watchdog blog.

Here is a great nerdy (I have a degree in Accounting so I can tease) summary from the Journal of Accountancy:

Bonus depreciation: IRC section 168(k) is amended to extend the 50% first-year bonus depreciation through 2009 (through 2010 for certain transportation property and aircraft).

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Whatever your thoughts on the stimulus bill, it has some implications for small business.

It may take years for us to truly understand what is included in the recently passed economic stimulus legislation, but for now, these points are worth noting.

The bill provides $730 million to the U.S. Small Business Administration and makes changes to the agency’s lending and investment programs so that they can reach more small businesses that need help. The funding includes:

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Sign of economic change? Try this: Full-page newspaper ads on foreclosure sales are being replaced with full-page ads for seminars on how small business owners can get rich selling to the government. I spell out exactly how to get started below.

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A Look at Small Business Tax Breaks in the Stimulus Bill

We have heard that Small Business get a tax break as part of the stimulus bill but what are they? Here we list the changes.

Qualified property expense ceiling raised

The Section 179 tax break that allows companies to expense qualified assets in the first year of service has been increased from $133,000 to $250,000 in the first year that qualifying assets are placed in service.

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