Small Business Reading Room

Wednesday, September 15, 2010

What to expect - A Summary of the Small Business Jobs Act

We're in business to help you incorporate and start your business off right. Whenever there are exciting developments in the business world, we want you to know about them. The small-business jobs bill now heading to a vote in the Senate, and contains some lots of provisions that can help your small company. For example, specific areas are included to provide Access to Capital, to Encouraging Investment, and Promote Entrepreneurship. Here's a quick summary:

SBA LOANS CHANGES
Extensions and increases in loan amounts on the following Small Business Administration programs:

7(a) Express loans

General business 7(a) loans

Certified development company (504) loans

CHANGES IN TAX PROVISIONS
You name it- new exclusions, deductions, credits, & depreciation schedules such as:

A Start-up deduction

Deducting cell phones

Capital gains exclusions

Deduction for health insurance costs

Bonus depreciation

Section 179 expensing

Built-in gains tax

There are also other provisions as well, such as making it easier for small businesses to have access to Federal contracting opportunities and greater government assistance with exporting and international trade.

Check out the Senate Finance Committee's Official Release for more details:

H.R.5297: Small Business Jobs Act Summary (PDF)

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Small Business Reading Room

What to expect - A Summary of the Small Business Jobs Act

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