CPA & Business Advisory Blog

2010 Small Business Jobs Act: How Small Businesses Will Be Affected

The recently enacted 2010 Small Business Jobs Act includes an assortment of changes for small businesses. Listed below are several, but not all, of the tax breaks and incentives, as well as the offsets (revenues and raisers) of the new law.

Tax Breaks and Incentives

  • Enhanced small business expensing
  • General business credits of eligible small businesses for 2010 allowed to be carried back five years
  • General business credits of eligible small businesses in 2010 aren't subject to AMT
  • S corporation holding period
  • Extension of 50% bonus first-year depreciation
  • Special rule for long-term contract accounting
  • Boosted deduction for start-up expenditures
  • Deductibility of health insurance for the purpose of calculating self-employment tax
  • Cell phones removed from listed property category

Offsets (Revenue Raisers)


  • Information reporting required for rental property expense payments
  • Allow participants in governmental 457 plans to treat elective deferrals as Roth contributions
  • Allow rollovers from elective deferral plans to designated Roth accounts

Click here for details on each of the tax breaks and incentives and the offsets (revenue raisers) of the 2010 Small Business Jobs Act.


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