President signs HIRE Act; creates new tax incentives.

• Position: Giving back

President Obama recently signed the Hiring Incentives to Restore Employment Act, which brings with it some business tax changes:

* Extension of enhanced small-business expensing (See. 179) retaining the $250,000 expensing election.

* Payroll tax holiday eliminating the current 6.2 percent employer Social Security tax for eligible new hires.

* Up-to-$1,000 business tax credit for keeping eligible employees for at least 52 consecutive...