The Whitehouse blog helps pinpoint how small businesses can take advantage of the changes in the tax laws within this Small Business Jobs Act. Specificially 8 new tax cuts went into effect immediately with another 8 expected to be added soon.
Two of these include the:
- Extension of 50% Bonus Depreciation: providing businesses, large and small, with the ability to make new investments today and know they can receive a tax cut for this year by accelerating the rate at which they deduct capital expenditures.
- Extension and Expansion of Small Businesses' Ability to Immediately Expense Capital Investments: The bill increases for 2010 and 2011 the amount of investments that businesses would be eligible to immediately write off to $500,000, while raising the level of investments at which the write-off phases out to $2 million.



