Obama’s American Jobs Act and Small Business

President Obama introduced the American Jobs Act last week and promised to help small business.  Americans have had mixed reactions to the proposal and many are skeptical of the bills’ ability to assist their business.  If you are a small business owner or employee here is a breakdown of perks the bill outlines for businesses:

  • Offers a tax cut of up to $4,000 for employers who hire a person who has been unemployed for at least six months.  If the employee is a veteran employers could receive up to a $9,600 tax cut.
  • Cut the employer share of payroll taxes in half to 3.1% on the first $5 million.
  • The 6.2% tax on payroll increase will be eliminated on payroll increase of up to $50 million.
  • Businesses will be able to depreciate select first year expenses.

About BizTV

BizTV is the home for your business. Whether you're an entrepreneur, small business owner or just managing your family's assets, BizTV can help. Find the resources you need to manage your money, start your latest venture or grow your business. BizTV, It’s Your Biz!

Posted on September 13, 2011, in Uncategorized. Bookmark the permalink. Leave a comment.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

%d bloggers like this: