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Small Businesses Can Benefit from Higher Expensing / Depreciation Limits
For tax years beginning in 2010 and 2011, small businesses can expense up to $500,000 of the first $2 million of certain business property placed in service during the year.
Small Businesses To Use EFTPS for Deposits Beginning in 2011
The paper coupon system for Federal Tax Deposits will no longer be maintained by the Treasury Department after Dec. 31, 2010. Most businesses must now make deposits and pay federal taxes through the Electronic Federal Tax Payment System (EFTPS).
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