The President last
week signed into law the Small Business Jobs and Credit Act, which gained
notoriety for establishing a $30 billion loan fund.  However, there is more to the Act that could
help small businesses.  USA
last week highlighted some of these lesser-known provisions:

proprietors can write off health insurance premiums
as business expenses
this year.  Note: Don’t miss this one
because it lapses after one year!

No fees
on SBA loans and increasing SBA guarantee to 90%
(from 75%).  This should make SBA loans cheaper, and
somewhat easier to get.

increase in SBA loan amounts
, which should help medium-size and larger
small business gain access to bigger loans under the SBA program.

capital gains taxes on investment in small business
.  If you’re looking for investors in your
business, this could be a BIG selling point.  Note: this only applies to C-corporations and
stock h as to be acquired by January 1, 2011 – so act fast!

the write-off of certain investments and allowing “expensing” of some real
estate improvements.
 This is most
likely to benefit mid-size businesses buying more than $250,000 of new
equipment or software. Also, restaurants and retailers making property
improvements can now use the Section 179 expensing rules for those

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