04/28/2008
Thousands of taxpayers will begin receiving rebate checks from the federal government this week as part of the economic stimulus package passed earlier this year. As the rebates find their way to taxpayers, small business owners should consider taking this opportunity to promote their business to consumers looking to spend this extra cash. Some retailers are holding special sales to encourage customers to use their rebate checks at their stores.
Checks in the amount of $600 (individuals) or $1,200 (married couples) and $300 per child are being sent to most taxpayers. In the first wave this week, the IRS is sending out more than 800,000 rebate checks electronically, and eventually expects 130 million taxpayers to receive a check.
Also included in the stimulus package were tax breaks for small business, which NFIB was instrumental in securing. Key provisions included doubling the dollar amount for expensing limits from $125,000 to $250,000 and a 50 percent bonus depreciation deduction for certain business investments of more than $800,000.
NFIB's federal lobbying team was relentless in the effort to make sure the stimulus package contained incentives to spur investment and help small business owners grow and expand their businesses.
