The Small Business Tax Help Blog

Posts Tagged ‘break’

Question: Obama and the dems are for small businesses and tax breaks for them, why don’t tea parties endorse the dems?

the republicans if elected will lower taxes on large corporations and make them pay less than small businesses do and will make it even harder for them to compete. Also according to their website http://www.gop.gov/solutions/ they aren’t offering any tax breaks to small business owners. Why do these tea baggers vote against their own best interest.

Answer: The teabaggers are a sad, sad group.

They are united in nothing but opposition to Obama, that is all.

And I’m not saying they’re all outright racists, but you must see for yourselves people.

http://twitpic.com/11yovq

Tax battle will show if reform is still possible

Look at America and Europe and it’s clear Australia has benefited hugely – in a material sense, at any rate – from the painful micro-economic reforms of the 1980s and ’90s.

R&D Tax Credit and Small Businesses – 7

Question: How Does Tax Stimulus Package Work for Businesses?

I want to know if a specific provision in the stimulus package relates to purchases made in calendar year 2008 or made in calendar year 2007.

For instance a published report states:

“The cost of the final Business Tax break package was uncertain. The two leaders agreed to allow businesses to immediately write off 50 percent of purchases of plants and other capital equipment and to permit small businesses to write off additional purchases of equipment. It appeared that a provision to allow businesses suffering losses now to reclaim taxes previously paid might be dropped to reduce the cost of the business package.”

See report here: http://news.yahoo.com/s/ap/20080124/ap_on_go_co/economy_stimulus

Does this mean if I bought a plant and equipment in 2007 I can right off up to 50% on my taxes filed in 2008? Or does it mean if I bought a plant and equipment in 2008 I can write off up to 50% in 2009?

Please advise, thanks.

Answer: Dante, you may have scared off alot of answerers with your excellent question. It would be your taxes for 2009. However, you must look at deprecition over 5 years as the best option. That will get you the better tax break.

Vermonters Flood Stores For Tax Break

Another sales tax-free day in Vermont drew crowds as expected, as stores across the state aimed to cash in a boom in business.

House Monday 2/15/10 Business Tax break proposal on fast track

Coal gets big tax breaks in Kentucky

FRANKFORT — This winter, before the General Assembly decides how much further it may have to

Bill English talks to Bernard Hickey about tax reform, interest rates and the government guarantee