On February 18, 2009 the much awaited and also the much needed American Recovery and Reinvestment Act was signed by President Barak Obama. This act is better known as the Economic Stimulus Bill created history in United States because the spending act is the country’s largest legislation in history and is aimed at rejuvenating the ailing economy by providing stimulus to different sectors.
Along with many other provisions, this stimulus bill also contains provisions for small business benefits. We all know the importance of Small Businesses in the country as they provide employment to more than 40% of Americans.
As the American economy is facing its worst days since the Great Depression of 1929, various sectors and a wide range of individuals have suffered the wrath of this ailing economy. Along with the big business houses, the poor economic conditions have also greatly affected the small businesses. The provisions in the stimulus package aimed at these business have been outlined below.
Small Business Stimulus Plan
Tax deduction under section 169
Under this deduction small businesses can in some occasions write off certain qualified plant and equipment purchases in a calendar realist year. Till last year this deduction was limited to only $ 128,000 and also could not be more than the income of the small business. Now the stimulus Bill will benefit the small businesses by increasing this deduction to $ 250,000 yearly beginning in 2008 tax year. However the type of equipments that a small business buys is important for receiving this deduction. It can not applicable for land, buildings and other improvements. It is only applicable for things like computers, vehicles, office equipments and like things.
Special Depreciation Deduction
Another provision included in the stimulus Bill for the benefit of small businesses is special depreciation deduction. Small businesses can apply for a special depreciation deduction for the year 2008.This will help you, for example, if you purchase a land or any property that you can not include under the section 179 deduction during 2008 then you can be able to depreciate 50% of it’s value during the financial year 2008 with the help of this provision. This will help you to utilize the remaining 50% of the value of that land or property for calculating your regular depreciation tax deduction.
Miscellaneous tax cuts
Small business owners can also enjoy certain tax cuts by showing miscellaneous expenses. The expenses for promotions directly related to a small business can be included in the miscellaneous expenditure. The small businesses can delay the payment of 3% withholding tax in goods and services to the government. Moreover, those share holders of publicly owned small businesses who are holding the shares for more than five years can receive a special capital gains tax cut.
Job creation
Those small businesses which employ workers who have been out of job for more than six months and also those students who left school six months back and are still unemployed, will receive special tax credits under this provision.
Small Business Administration Benefits
The Stimulus Package also clearly outlines the role of Small Business Administration (SBA). The SBA will ensure that the small businesses can more easily get loans and also will offer incentives to lenders who will give the loan for small businesses. This will ensure more capital flow in the market.
I NEED TO KNOW MORE ABOUT THE STIMULUS CHECK FOR THE SMALL BUSINESS
If small businesses are 40% of the economy, we seem to be getting the very short stick on this bill.
With $$$Trillions going to banks and large businesses, there is a tiny, tiny, tiny fraction of that amount allocated to small businesses and there are tons of strings attached. This really stinks!!
The fat cat Democrat politicos are funding their big donors and leaving small businesses to rot.
Ever wonder why AIG is getting so much money? Guess who is insuring the fat and bloated pensions of the Congress and the bloated ranks of federal bureaucrats. Yep, it’s AIG.
I am interested in information to see if our small business qualifies for assitance to get thru this econmic slow time. We have been in business for 10 years and have paid alot of tax money in those 10 years. please let us know how to apply for some help.
i want to be informed more about the small business stimulus help please let me know in need of it now
I want to open up my own Business and i want to know if i’m quilfied for this check please contact me. thanks Sherise Pleasant
How do you go about applying for the loan?
I am interested in information to see if our small business qualifies for assitance to get thru this econmic slow time. Please contact me.
I just started a business, and would like to know how to apply for the small business loan or grant?
I have been catering for about four years. I just open up a diner and would like to know how to apply for help in getting a small business loan or grant.
We are a small company and been in business since 1998. We have paid a ton of taxes, and I wonder, how can I apply for the small business loan/grants to keep my business going through the slow economy.
how do I get small business stimulas Check?
How do I apply for stimulas check?
How do I apply for a stimulas check?
i have a small business and have been in business for 1o years and boy do i feel the drop in construction work. Please help me find out if I qualify for any of the above
My wife and I opened a restaurant in late 2008 and we are having a hard time make ends meet. I would like more information on the stimulas package for small business owners.
Please let us know how to find out if we qualify.
Thanks
I see that every one has the same question. Has anyone gotten an answer? I am wanting to open a small gym, but need a small loan or grant to get me started. Can anyone tell me how to get this process started?
I am a small business owner and I wanted to know how to apply for small business stimules money to help keep my business running. If you have any information on how to apply it would be greatly appreiciated.
Thank you
JOSEPH HOWZE SAYS:
June 9, 2009 at 10:45 pm
Iam interested in information to see if my small business qualifies for cash loan assitance. How do I go about applying for the stimululs loan, right now, TIME IS MONEY.
THANK YOU.
Joseph T. Howze CEO
HOWZE INTERNATIONAL CONTRACT
SERVICES INC.
HICS INC.
714-735-8175
josephhowze011011@yahoo.com
I am also a small business owner I would like to get the information to get started to. Thank you
I am a small business, and have been in business since 1981. I have tried to get SBA loans, but could only get guarantees on state and government contracts. I would like to apply for a grant. I would also like to know about any stimulus money that might be available to me. I need help asap. I am wanting to bottle my bar-b-que sauce. I have been a professional bar-b-que cooker for 27 years.
My husband and I have a small business that we started up in 2008 and how do we apply for a portion of this stimulus package
I have a small boarding kennel and would love to expand. Could you please send me information on stimulus monies avalible.
I have a start-up idea and a business plan ready to go. I’ve spoken with two banks. Both feel that the idea is a good one but say there’s no money for start-ups. Too risky. So what’s a start-up to do?
Hi Everyone
The website plans to put up articles on Start Up Loans soon. Kindly keep yourself updated with the website.Hope you find it useful.Thanks.
Also the website will host an array of articles regarding eligibility for stimulus etc.. Thanks.
How do I apply for this stimulus check?
I am in need of any way to discover how to receive some of the stimulus set aside for small business. I am in need of it now and have many years of experience, but having wading through the mass of info.
I want to know how to apply for this stimulus check for small business owner?
As a small business owner, I would also like to know how to get some of the stimulus money to help weather these turbulent times. The more I read, the more I’m beginning to realize, there is no money there for us. I hope I’m wrong; but, todate, I’ve found nothing that contradicts this conclusion.
Please let me know if you’ve learned something I don’t know.
It says the money went to the SBA. Contact them.
We have a small business. We need information on the stimulus check, grants, and or any loans available for us the little business
owners. We need money to keep the business going or at least to survive until the awful weather is gone. This is a nightmare become reality for alot of us. These are our dreams please help if you got any informations. Good luck to all of us.
Have you received any information on SBA Stimulas and how to apply? Could you please let me know.
I have been in Business 4 ten yrs. In July I wrote my Mayor brecause her in Allenton, to b qualified 4 a grant you have to open in the locations they want to build them up. I don’t want to move and looking for help in applying for a grant to help me with my Business. There has to b someone somewhere to help!!!!!!!!!!! The it takes so long if you do get the help. This is my livelyhood ahs a Black Woman and looking for help. Thank you and God Bless!!!!!!!!!!!!!
PLease excuse mispelled words. Like b 4 as I stated, I never heard back any type of information from my Mayors Office to lead me in any direction to go. I am like other Business Owners we are looking for help, because we vote and are good citizens!!!!!!!!!!! We are looking for that HELP!!!!!!!!!!!!!!!!!!
How do recieve the small business stimulus money for my business?
Your immediately response is warrant.
I am awaiting your response.
After a total devasting fire destroyed my building and 62 yeaar old bakery business and losing virtually everything..I want to re-build but I am faced not only with a high building cost but have to replace bakery equipment from scratch. What kind of grant if any is available for business equipment? Is there anything available for building a “green” building?…grants..tax credits? Time is of the essesce for us to get started asap..I would appreciate a reply> Thank you..A Pollack
Could you please advise on how to get a grant for my business, I have four employees and we have been trying to survive for a couple of years.
This is a Real Estate and Loan business and I will need to let my employees go if I cannot get any grant money, thanks
Rita Aken, Broker
Atlas Financial Services, Inc
I am a small business owner and I wanted to know how to apply for small business stimules money to help keep my business running. If you have any information on how to apply it would be greatly appreiciated.
could you please advise on how to get a grant for my business, I have four employees and we have been trying to survive for a couple of years.
Thank You
can you please mail me a package for the grant stimules package.
Thank You 2550 NW 20 STREET MIAMI,FL 33056
can you please mail me a package for the grant stimules package.
PLEAE MAIL TO 2550 NW 205 STREET MIAMI,FL 33056 THANK YOU
Ms. Coleman
I have a business that I am trying to build. Please send info on small stimulus business package.
Linda Winston, P.O. Box 1174, Russellville, AL 35653
lcgwin1@aol.com
Thanks so much
Iwant to apply, how do i do so, and where? please help, thanks. denise
How do I apply for a grant stimulas package??????
I am a small business owner and I wanted to know how to apply for small business stimules money to help keep my business running.
Please let me know.
Mi ADDRESS 1000 TEXAS ST SUITE H FAIRFIELD CA. 94533
Thanks
please help our business move forward
we need money help
please let us know how we can get checks
thank you, ted lersch
I am a family owned small business. A large corporation stung me for almost $400,000.00 I am being sued by a major mall and the subcontractors. I have a judgement against my client and he has gone dark and is starting another business. I did everything right, why should I be punished. I need help to get out from under this. I have been in business for 13 years as a commercial tenant improvement contractor.How can corporate america or the federal goverment get away with allowing this to happen?Why should i be forced to file bankruptcy and he is allowed to go on?
We are a small company. I wanted to know how can we apply for the small business loan/grants to keep my business going through the slow economy.
I am a real estate agent and considered a self employed contractor working for my broker. Would I qualify for any stimulus money?
Where can I apply for a $200,000 business loan? I have a tech service business which is very successful and I have perfect credit.
plwroan@att.net or call 818 249 5302
I am a small business, just like everyone else. I have had my business for 9 years. We are a small company with a lot of talent. We are struggling and need to know how to apply for the small business loans or grants. I would appreciate any information that you can send me. Thanks alot.
Where do I apply? I have had a loss of wages, and repairs to the business are needed.
Would you pleae send me the application for samll business funding for our business under this plan or notify me as to how I go about seeking small business funding help?
Greg Garrett
AZ Risk
40 East Ash Street
Canton, Illinois 61520