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Small Business Lending

Tax Credits for Small Business Hiring

The HIRE Act of 2010

President Obama signed the Hiring Incentives to Restore Employment (HIRE) Act on March 18, 2010.  This $17.5 billion legislation is of particular interest to businesses as it included new tax benefits directly related to hiring employees and writing off investments in equipment.

The new tax incentives for businesses to hire unemployed workers included:

The new employees must meet these criteria in order to qualify for the business tax credits: