Increase in Small Business Limit for 2009

A welcome change for small businesses was the 2009 budget’s increase in the small business deduction limit to $500,000. Prior to the budget, the small business deduction reduced the federal corporate income tax rare applied on the first $400,000 of active business income for CCPCs ...

2 Comments   |   Posted in Financial Planning for Business Owners,Tax Planning September 29, 2009