SmallBusinessNewz

If the idea of a recession has you worried, then you're probably a sane person.  But $150 billion in help may be on the way, as the Bush administration and House leaders have arrived at an agreement.

Most employed individuals will receive between $600 and $1,200 in tax rebates, and we were quite pleased to hear that.  What's interesting for small business owners, though, is that some sections of the deal were aimed specifically at them.

"The deal will double the amount small businesses can write off their taxes for new investments made in 2008, from $125,000 to $250,000," reports Stacy Cowley.  "It also lifts the cap on businesses eligible for the deduction, expanding it to businesses making up to $800,000 (up from the current $500,000 limit)."

Cowley also writes, "Another provision will allow businesses investing in new plants and equipment to speed up bonus depreciation provisions, so that firms can write off 50 percent for investments in 2008."

Opinions remain split as to whether the planned breaks are not enough or too much, and whether they'll be implemented in time to change anything, either way.  Still, as the stock market seems to be taking yet another downward turn today, it's nice to see some promising news.