Tax Help - Stimulus for Businesses

Business Incentives Included in Economic Stimulus Package

Business owners will be one of the recipients of the economic stimulus package now being sent to President Bush for signature. Businesses will receive "incentives, including a doubling to $250,000 from $125,000 in the amount of expenses businesses can immediately write off," said the New York Times .

The stimulus plan will allow small businesses to deduct more property and equipment expenses this year, lowering their taxable income. It is hoped that this plan will provide incentives to small businesses to increase spending and investment.

In other words, the government wants you to spend more money on equipment for your business, up to the $250,000 limit, to stimulate the economy.