The Small Business Administration has created an online tax savings resource center to help small businesses benefit from the 2008 economic stimulus package.
The package includes the following tax incentives for businesses: a 50 percent bonus depreciation allowance on equipment purchased and placed in service in calendar 2008 and an almost 100 percent increase in the amount (from $128,000 to $250,000) 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 at www.sba.gov/stimulus demonstrates the benefits entrepreneurs can gain from the 2008 economic stimulus package.