Incentives may boost businesses

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Sandy Wood is optimistic about President Obama's recent small business tax cut ideas.

"It's very difficult as a small business," she said. "Any savings I could be afforded would definitely be something to take advantage of."

She is the owner of Designed for Change, an interior design consignment store on Davis Road in Martinez. Her store has been open for two months, and she has one part-time employee right now.

"In the future, as business picks up, I will need to hire more people," Ms. Wood said.

That hiring could qualify her for tax cuts for adding staff in 2010, a proposal Mr. Obama mentioned in a speech Tuesday morning.

A major part of the president's package includes new incentives for small businesses, which account for two-thirds of the nation's work force.

In addition to the new tax cut for small businesses that hire in 2010, the president proposed an elimination for one year of the capital gains tax on profits from small-business investments and making Small Business Administration loans more readily available by eliminating fees and increasing federal loan guarantees in 2010.

Matthew Meadows, the owner of Double Oaks Landscaping in Martinez, agrees that tax cuts and other financial incentives would help out, as well as specifically boosting the local economy.

"Any kind of money they can help us save would be money we can put back into our businesses," Mr. Meadows said.

He said that with the money saved, business owners could hire more employees, buy new equipment and otherwise expand their businesses. He added that job creation would help the local unemployment rate and equipment purchases would help other small businesses.

"It's a win-win situation ... We're kind of the backbone of the economy," he said. "Most businesses get started as a small business."

Reach Gracie Shepherd at (706) 724-0851 or t.gracie.shepherd@augustachronicle.com.

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OkCharlie
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OkCharlie 12/09/09 - 03:11 am
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test

test

JacquesUlar
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JacquesUlar 12/09/09 - 05:13 am
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Tax cuts for small

Tax cuts for small businesses, huh? Where have we heard this before? CHANGE CHANGE CHANGE! Yeah, right. At least this plan has a chance of helping to offset the additional costs that this administration plans to levy on small business (who employ well over 90% of workers in Georgia). I just wish Obama

lifelongresidient
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lifelongresidient 12/09/09 - 10:44 am
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we have been sold a "bill of

we have been sold a "bill of goods", tax cuts for small business are great, however what will jump start the economy faster is getting our manufacturing base back(heavy, medium and light industry), steel and cotton mills, furniture factories and domestic auto production. obama promise he would look at rescinding nafta, cafta and anyother unfair trade policies, eliminate tax breaks for american companies outsourcing jobs to mexico, china and who knows were else!!! NONE OF THIS WAS DONE, AND IT'S NOT EVEN BEING MENTIONED ANYMORE!!! the only thing that is constantly being done is extending U/E, it helps those out of work but does nothong to solve the main problem which is reducing unemployment...to H#LL WITH "GREEN JOBS" and GLOBALIZATION when need our manufactuing base back in order to put people back to work at a decent wage over here in this country making things over here for export like we use to!!!!

ron_rlw
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ron_rlw 12/09/09 - 11:48 am
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This is very interest ...

This is very interest ... according to Obama the bush tax cuts were a bad idea ... so now he is using tax cuts to help simulate small business. Just another example of Obama following in Bush's foot steps.

nofanofobama
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nofanofobama 12/09/09 - 02:23 pm
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i am confused so help me. how

i am confused so help me. how do capital gains tax cuts help small business? the problem they face is that their income is overly taxed. what assets are sold by small buisness and what are treated as capital gains....

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