White House Announces New Aid Package for Small Businesses

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”It’s a huge step in the right direction,” Giovanni Coratolo, director of Small Business Policy at the U.S. Chamber of Commerce, said Saturday. ”In this economy, having the least amount of risk for banks will incentivize banks to lend to small businesses. A lot of small businesses will benefit from this.” The White House announced a series of moves to great credit flowing to small businesses, as new direction on small business tax breaks:

  • Losses over five years can be claimed in 2009.
  • Write-offs of investments up to $250,000 can be claimed this year.
  • Reduction of estimated tax to 90 percent of the previous year’s filing.
  • Depreciation deductions for property purchases will be larger.
  • Capital gains, 75 percent exclusion for businesses investments. 

Click here for full coverage in the New York Times.

-Chris Carmody

www.gogreenplus.org

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Chris has spent over 20 years helping communities utilize sustainability, social entrepreneurship, and philanthropy as catalysts for economic growth. Chris serves as Executive Director of the Institute for Sustainable Development and the Green Plus™ -- a program dedicated to helping America's...
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