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Specialty
Graphic Imaging Association
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Executive Summary
September 2010 |
Obamadollars for Small Business!
It’s true. A proposal has been put forth that is actually good for small businesses! Obama has proposed that the Section 179 moratorium on depreciation not only be extended, but extended without the $250,000 limit.
The Section 179 proposal allows companies to deduct the purchase business machinery or equipment from their taxes in the purchase year, instead of depreciating the expense over several years. This makes it much easier for companies to make equipment purchases because the tax deduction puts money back in their hands.
We’re optimistic that Obama’s proposal will be put into action because it fits the agenda of the pro-business representation in Washington. Their argument is that modifications to Section 179 aren’t enough. They want the tax cuts for higher earners to remain as they are, too. With elections coming soon, representatives from both parties are beginning to support measures to relieve tax pressure on small business.
Additional tax relief for small business is certainly needed. The proposed change to section 179 would be retroactive to September 8, 2010. This will help leading graphics producers in the SGIA community take advantage of the latest technologies available at the SGIA Expo.
Speaking of the 2010 SGIA Expo… It’s going to be a spectacular event. Participation numbers are up in all categories — more attendees, more exhibitors, and more opportunities to learn, get motivated and succeed in today’s marketplace.
See you in Vegas! |
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