Monday, September 27, 2010


Starting today, millions of small business owners will be eligible for up to eight new tax cuts, and within weeks, thousands of businesses will finally have access to the credit they desperately need.

The bill also includes key provisions the President has fought for since the beginning of this year:

-- Small businesses receive a tax write-off on the first $500,000 of new equipment investments;

-- More than a million eligible small businesses will be able to make key long-term investments that are subject to zero capital gains taxes;

-- Entrepreneurs who take a chance on a new idea can deduct the first $10,000 of start-up costs; and

-- The self-employed can deduct 100 percent of the cost of health insurance for themselves and their families from self-employment taxes.

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