STIMULUS OFFERS SOME SMOKE, SOME MIRRORS, SOME OPPORTUNITIES
(Register today for June 23 Panel Discussion)
There’s a lot of money flying around out there from the various econ stimulus initiatives. Some may help. Some come with risk.
That’s the focus of the N.E.W. North’s Small Business and Entrepreneurship Committee panel discussion on June 23rd in Green Bay at NWTC from 9-11AM.
The panel, which is slated to include Congressman Steve Kagen, will address specifics of how the Recovery and Reinvestment Act of 2009 (commonly referred to as the Stimulus Bill) will allocate government dollars to the private sector.
Among the potentially positive provisions for business owners, says panelist Jim Olson, Partner, Schenck Business Solutions, are some “lucrative tax incentives. However,” he warns, “they are not necessarily available to everyone equally.”
Specifically, Olson told N.E.W. North, if a business qualifies, there is an incentive for the purchase of fixed assets by end of year. ”A business can write off the entire amount up to $250,000. On top of that, if they have the money, they can take a “bonus depreciation” of 50% above $250,000.”
On the caution side, business owners and individuals should also be aware that the Alternative Minimum Tax (AMT) is still very much alive and a potential threat. It could nullify much of the write-off incentives.
Also, Olson pointed out in an interview, under the Making Work Pay Credit, some taxpayers are receiving larger paychecks today. However, some people may have to pay more at the end of the year.
Perhaps the biggest danger is that so many initiatives have been introduced that the government is not sure what they all mean … let alone individuals and individuals. It will take a long time to sort it all out.
That’s why the upcoming June 23rd panel discussion is so important. The issues will not go away. The businesses that understand the new laws are in a much better position to avoid problems and capitalize on opportunities.
Panelists include Congressman Steve Kagen; Wisconsin SBA District Director Eric Ness; Jim Olson, Shareholder at Schenck Business Solutions; and Alan Fish, Director of the Wisconsin Office of Recovery and Reinvestment.
Seating is limited, so sign up today. To register, contact me at Alta Exchange Group either by email at alex@altaexchangegroup.com or phone (920-540-1072).
John R. Ingrisano
Writing For The N.E.W. North
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