SMALL BUSINESS BREAKS FROM OBAMA
Here's the list of 17 small business tax cuts that President Obama has signed into law --
From the Recovery Act, HIRE Acts, and Affordable Care Act:
1. A New Small Business Health Care Tax CreditFrom the Small Business Jobs Act:
2. A New Tax Credit for Hiring Unemployed Workers
3. Bonus Depreciation Tax Incentives to Support New Investment
4. 75% Exclusion of Small Business Capital Gains
5. Expansion of Limits on Small Business Expensing
6. Five-Year Carryback of Net Operating Losses
7. Reduction of the Built-In Gains Holding Period for Small Businesses from 10 to 7 Years to Allow Small Business Greater Flexibility in Their Investments
8. Temporary Small Business Estimated Tax Payment Relief to Allow Small Businesses to Keep Needed Cash on Hand
9. Zero Capital Gains Taxes on Key Investments in Small BusinessesAnd from the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act:
10. The Highest Small Business Expensing Limit Ever– Up to $500,000
11. An Extension of 50% Bonus Depreciation
12. A New Deduction for Health Care Expenses for the Self-Employed
13. Tax Relief and Simplification for Cell Phone Deductions
14. An Increase in The Deduction for Entrepreneurs’ Start-Up Expenses
15. A Five-Year Carryback Of General Business Credits
16. Limitations on Penalties for Errors in Tax Reporting That Disproportionately Affect Small Business
17. 100 Percent Expensinghttp://www.whitehouse.gov/blog/2011/02/25/seventeen-small-business-tax-cuts-and-counting
A white house blog? LMFAO. Are you serious? REAL INFO -----> http://jan.ocregister.com/2011/03/08/are-calif-businesses-closing-or-leaving/55995/