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Gimme a Tax Break

Tax breaks ease the burden of the minimum-wage hike.

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This story appears in the August 2007 issue of Entrepreneur. Subscribe »

The new federal minimum-wage law, passed in May, came with some $4.8 billion in tax breaks for small business. While the minimum wage rises to $7.25 an hour over the next two years, these new tax breaks are intended to ease the burden on business owners.

What's in it for you? Two of the law's provisions provide most of the financial relief, and they're fast-acting, going into effect this year.

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