President Obama signed the Small Business Jobs Act of 2010 (HR 5297) yesterday.
- Increased section 179 expensing
- Extension of 50% first-year bonus depreciation
- Zero capital gain tax rate from IRC Sec. 1202 small business stock
- Increased IRC Sec. 195 deduction for business startup expenses
- Five-year carryback of general business credits
- New deduction for self employed health insurance costs on the Schedule C
- Removal of cell phones from the definition of listed property