Tax planning demand is tipped to soar in the
US following the passage of the Small Business Jobs and Credit Act
of 2010 through Congress this month.

The rules should benefit firms who service
SMEs who provide services on:

  • the timing of a sale of small business
    stock;
  • planning the acquisitions of new equipment to
    take advantage of the expanded depreciation provisions; and,
  • planning the start of a new business that
    takes advantage of increased deductions for start-up expenses.

The legislation is expected to create a $30
billion lending fund which utilises community banks as a channel to
increase lending to small businesses.

 

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