Six Tax Breaks for Small Business

Plus steps to ease the credit crunch for smalls -- all in a bill moving rapidly through Congress.

High on the agenda as Congress returns to work is a bill designed to give small businesses a big boost, in hopes that will allow them to start adding badly needed jobs. Key hurdles have been cleared for the legislation, which has bipartisan backing and popular support. The measure will create a $30-billion fund so that community banks can lend to small businesses. The fund, to be administered by the Treasury Department, will offer grants to existing state lending programs, encouraging private lenders to loosen up on credit. The bill will also give the Small Business Administration more options and money to match private investment in start-ups.

Smalls are even more excited by several tax breaks:

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Peter Blank
Editor, The Kiplinger Tax Letter
Peter Blank passed away in November 2017. He had worked on the staff of The Kiplinger Tax Letter since 1981 and had edited the publication since 1999. He earned a BSE in civil engineering from Princeton University, a JD from Widener University School of Law and an LLM in taxation from Georgetown University.