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What a Relief!

A new act cuts small businesses a break with a large token of depreciation.

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This story appears in the May 2002 issue of Entrepreneur. Subscribe »

The much debated and finally passed economic stimulus package may mean quite a bit to your business. This year, tax analysts say the Job Creation and Worker Assistance Act of 2002 will provide $43 billion in tax breaks to businesses, much of which will go to small businesses.

A provision especially hailed by business owners allows companies to immediately deduct an additional 30 percent of the cost of most new equipment purchased during the next three years. To be eligible, the equipment must have been acquired after September 10, 2001 and before September 11, 2004.

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