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When President Bush signed the stimulus package in February, it not only promised cash rebates for tax payers, but also spelled assistance for entrepreneurs. Included in the package: an immediate 50 percent bonus deduction on new equipment that would normally be depreciated over many years, and an increase from $128,000 to $250,000 of the limit on expenses that small businesses can deduct from annual income (with a total cap of $800,000).
When President Bush signed the stimulus package in February, it not only promised cash rebates for tax payers, but also spelled assistance for entrepreneurs. Included in the package: an immediate 50 percent bonus deduction on new equipment that would normally be depreciated over many years, and an increase from $128,000 to $250,000 of the limit on expenses that small businesses can deduct from annual income (with a total cap of $800,000).
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