The Stimulus' Key Small Business Tax Provisions

Experts who are in the process of familiarizing themselves with the new law explain how it will benefit small companies in terms of tax relief

The stimulus bill signed into law by President Barack Obama on Feb. 17, formally known as the American Recovery & Reinvestment Act, provides $288 billion in tax relief to individuals and companies. But how much of that will benefit small business owners—and how? You can read the 407-page law posted online, but we wonder how many members of Congress managed that. Instead, columnist Karen E. Klein has made things a bit easier by highlighting the law's most important tax provisions applying specifically to small firms. Bear in mind, these changes only apply to federal tax liability, not state.

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