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Old 01-29-2003, 06:11 PM
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LawnsRUsInc. LawnsRUsInc. is offline
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lawn care Grant or loan?

I hear briefly on talk radio this afternoon that george bush raised small business start up loans or grants from $25,000 to $75,000. Anyone know anything about it or if it is agrant or a loan?
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Old 01-29-2003, 06:23 PM
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Forget about a grant unless you're working on a cure for the AIDS virus with it.
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Old 01-29-2003, 08:15 PM
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I remember something about raising section 179 depreciation allowance from 25K maximum per year 2x or 3x, maybe thats what they were talking about. That wouldn't be a grant or loan though, but a business deduction.
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Old 01-29-2003, 09:15 PM
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Do grants (free money) exist for lawn care? Probably not.

Loans....The rates are really low for any business looking for a loan.
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Old 01-30-2003, 11:20 AM
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Ya iam not sure where i can find out info. I think i might keep my eyes glued to the business section.
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Old 01-30-2003, 11:39 AM
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we got lucky. due to cutbacks and some changes in regulations you can't get much here now, but when we started we got a $24 000 grant. course thats here in the land of socialists.
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Old 01-30-2003, 01:20 PM
lsylvain lsylvain is offline
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Check out your local Small business Association they can help you out.

The section 179 deduction for 2002 is now $35,000 the forms still say the $24,000 but you can take $35,000 it's in the new directions. You can also take an aditionaly 30% depreciation on the first year you put stuff in service now. Of course unless you spent more than the $35,000 it doesn't really matter.

As far as the loan/grant thing. I think what they are talking about is that the loan is secured by a government grant so if you defult the investors don't get screwed. Giving you a better interest rate.
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Old 01-30-2003, 01:52 PM
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WRONG!!!

Quote:
Originally posted by lsylvain
Check out your local Small business Association they can help you out.

The section 179 deduction for 2002 is now $35,000 the forms still say the $24,000 but you can take $35,000 it's in the new directions. You can also take an aditionaly 30% depreciation on the first year you put stuff in service now. Of course unless you spent more than the $35,000 it doesn't really matter.

As far as the loan/grant thing. I think what they are talking about is that the loan is secured by a government grant so if you defult the investors don't get screwed. Giving you a better interest rate.
That is for "Liberty Zone" only, that is defined as an area in New York related to 9/11. Generally still limited to 24,000 for 2002 for most of the country.

Depreciation is complicated, make sure you get good advice and / or do your research if you are doing your tax returns yourself. A link to the IRS publication is

http://www.irs.gov/formspubs/page/0,...104272,00.html
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