Stimulus and Education
I had the honor and pleasure of participating in an important discussion with President Bush today about how the Economic Stimulus Act of 2008 is bolstering small-to-mid-sized companies like mine.
It was an incredible experience to meet the President and just "chat", as unbelievable as that seems. The President certainly understands the pressures on small business and I believe he is working hard to help us. After the meeting, he invited us into the Oval Office and talked with passion about the history of the office, truly a once in a lifetime experience.
My company is in the business of changing lives. For more than ten years, Educational Options has supported students and educators across the nation and around the world by providing the highest quality web-based educational products for academic success. We work in traditional classrooms, with teachers, to help students gain and recover credits and make it to their graduation day.
The savings my company will realize through the Section 179 expensing benefit of the Economic Stimulus Act has prompted me to pull the trigger on purchasing equipment I’ve needed to expand my business - purchases I’ve delayed until now, such as two new servers and two new routers, and upgrading or replacing 20-30 office computers.
We also plan to use the additional $8000 first year depreciation allowed on automobile purchases to buy new cars for our sales force. I was especially pleased when my CPA told me none of these new deductions would add to possible Alternative Minimum Tax liability, a constant problem for Sub-Chapter S small businesses.
What do these purchases translate to? My company is helping more students succeed and strengthening our future workforce. As a business leader, I feel strongly that our country must hold students to high but reasonable standards to ensure that they succeed in school and beyond. My company’s products directly address requirements of No Child Left Behind and have had a meaningful impact on curbing the dropout crisis.
Tom Sawner, Ed.D. is CEO of Educational Options in Arlington, VA.