The Small Business Administration has created an online tax savings resource center to help small businesses understand the benefits of the economic stimulus package.
The resource center includes a fact sheet outlining various tax benefits for small businesses. The package includes a 50 percent bonus depreciation allowance on equipment purchased and placed in service in calendar year 2008, and an increase from $128,000 to $250,000 in the amount that a business can expense for equipment purchased and placed in service during the business tax year.
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