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
Today 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!
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