I subscribe to the Gifts & Decorative Accessories daily eNews and on Wednesday, one of the headlines was, “Obama Signs Small Business Jobs Law”. I thought, well, I’m a small business, let’s check this out. I will admit that I wasn’t optimistic that any of it would apply to my business, because I’m so small I didn’t think there would be things in the Law to help little old me. I was pleasantly surprised to find a few things that might! (I’ll be talking to my accountant about it, to be sure!)
President Barack Obama signed the 2010 Small Business Jobs Act into law on Monday. (9/27/10) PLEASE NOTE: It is not my intention to be political or start a political debate with this post. I’m simply pointing out something that might affect your business – hopefully positively.
The two things that caught my eye were:
• Entrepreneurs can deduct the first $10,000 of start-up costs, double the previous deduction. (This could apply to you if you are just starting your business.)
• The self-employed can deduct 100 percent of the cost of health insurance for themselves and their families. (I sure hope this applies to me – I’m self-employed and self-insured and it ain’t cheap!)
I’m sure there is a lot more to it than is covered in the article but I’m excited to see what will help my business get some tax relief this year. As my first employer loved to say, I’m “cautiously optimistic”….
Read the full article at: http://www.giftsanddec.com/article/532021-Obama_Signs_Small_Business_Jobs_Law.php?nid=2069&mid=98664897
Here are links to some other news outlet stories about the story:
Here’s to your creative success!
– Tara Reed
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