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State Trade and Export Promotion Pilot - This pilot program will provide $90 million to states as competitive grants during the next 36 months to assist small businesses discover ways to export. Training and Counseling Expanded: In 2010 and beyond, $50 million in grants will be available to Small Business Development Centers. $12 Billion in Tax Relief to Help Small Businesses Invest in their Firms and Create Jobs: 8 Tax Cuts: 1. Higher business expensing limit ($500,000). 2. General business credits have become carried back five years. 3. Accelerated/bonus depreciation 4. Zero capital gains taxes for many who invest in small enterprises 5. Increased deductions for start-ups 6. Deductions for employer-provided cell phones 7. Deductions for health care insurance costs in case you are self-employed 8. Limitations on penalties for errors in tax reporting that disproportionately affect small enterprises. Resources: General/Expanded Information: Amended Small Business Acts of 2010:
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