Small Business Jobs Act of 2010 Provides Targeted Tax Incentives for Businesses


On September 27, 2010, President Obama signed into law the Small Business Jobs Act of 2010 (HR 5297) (the “Act”). The Act, among other things, provides a number of targeted tax incentives for large businesses, small businesses and individuals. Many of these tax incentives have relatively short life spans, while others are intended to become permanent. The following is a brief overview of the tax incentives in the Act that are relevant to many business owners.

Increased Deduction for Qualified Business Start-Up Expenditures

The Act increases the amount of qualified business start-up expenditures that a taxpayer may elect to deduct from $5,000 to $10,000 for tax years beginning in 2010. These deductions generally phase out for expenditures above $50,000. The Act increases the deduction phaseout threshold so that the $10,000 is reduced, but not below zero, by the amount by which the cumulative cost of qualified business start-up expenses exceeds $60,000.

Please see full article below for more information.

LOADING PDF: If there are any problems, click here to download the file.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Manatt, Phelps & Phillips, LLP | Attorney Advertising

Written by:


Manatt, Phelps & Phillips, LLP on:

Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.