Monday, February 28, 2011

17 small business tax cuts that President Obama has signed into law

Here's the list of 17 small business tax cuts that President Obama has signed into law --

From the Recovery Act, HIRE Acts, and Affordable Care Act:

1. A New Small Business Health Care Tax Credit

2. A New Tax Credit for Hiring Unemployed Workers

3. Bonus Depreciation Tax Incentives to Support New Investment

4. 75% Exclusion of Small Business Capital Gains

5. Expansion of Limits on Small Business Expensing

6. Five-Year Carryback of Net Operating Losses

7. Reduction of the Built-In Gains Holding Period for Small Businesses from 10 to 7 Years to Allow Small Business Greater Flexibility in Their Investments   

8. Temporary Small Business Estimated Tax Payment Relief to Allow Small Businesses to Keep Needed Cash on Hand

From the Small Business Jobs Act:

9. Zero Capital Gains Taxes on Key Investments in Small Businesses

10. The Highest Small Business Expensing Limit Ever– Up to $500,000

11. An Extension of 50% Bonus Depreciation

12. A New Deduction for  Health Care Expenses for the Self-Employed

13. Tax Relief and Simplification for Cell Phone Deductions

14. An Increase in The Deduction for Entrepreneurs’ Start-Up Expenses

15. A Five-Year Carryback Of General Business Credits

16. Limitations on Penalties for Errors in Tax Reporting That Disproportionately Affect Small Business

And from the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act:

17. 100 Percent Expensing

Posted via email from Pa^2 Patois

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