President Obama signed a law today that will create up to $30 billion in loans for small businesses and $12 billion in tax breaks for businesses of all sizes. Among other things, the Small Business Jobs and Credit Act of 2010 will: Increase the tax write-off for certain capital expenses.
The IRS recently released guidance for small businesses and non-profits that are eligible for the health care credit that was unveiled in March. Small businesses will include it as a general business credit on their income tax returns; non-profits will claim it on a revised Form 990-T. If your organization
President Obama is expected to make a public push to expand the income tax deduction that businesses can claim for investments in non-real estate assets. His proposal is, in essence, elective 100 percent bonus depreciation – “elective” meaning the taxpayer does not have to claim the deduction otherwise made allowable
The Ohio legislature recently passed a bill that will significantly lower the cost of producing solar, wind and clean-coal energy, which should make it more palatable for local businesses to invest in the technology. Senate Bill 232, which overwhelmingly passed the Senate and House of Representatives on June 4,