In these difficult economic times, many businesses are trying to maximize earnings and minimize tax burdens. The American Recovery and Reinvestment Act of 2009 (ARRA) contains tax incentives and other programs which can provide relief for both large and small businesses.
For businesses unfamiliar with the ARRA, the IRS has just released a guide to the act’s most important provisions.
The U.S. Small Business Administration (SBA) can also provide assistance to small businesses that have been hurt by the economic downturn. SBA’s America’s Capital Loan Program, or ARC, provides an immediate influx of capital to formerly profitable small businesses that are now struggling to remain solvent.
To learn more about how the City of Seattle is seeking federal stimulus funds, or how stimulus money is being spent across the city, visit the Mayor’s economic recovery website.