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Small Business Jobs Act of 2010

On September 27, 2010, President Obama signed into effect a new law directed at helping small businesses survive and grow in this economy. The most useful provisions of the Act, in my opinion, are those directed at making it easier for small businesses to obtain bank financing. Businesses borrow money...

Small Business Jobs Act to Simplify Taxation of Cell Phone Usage

By Philip J. Castrogiovanni , Ralph E. DeJong , and Michael N. Fine New legislation, which takes effect immediately, simplifies substantiation rules for employer-provided cell phones and other similar telecommunications equipment. On Monday, September 27, 2010, President Obama signed the Small...

Big Breaks for Small Businesses

by Karen E. Hobson and Darin Christensen The recently enacted 2010 Small Business Jobs Act (the "Act") includes a wide-ranging assortment of tax breaks and incentives for small business. Below is a summary of some of the key tax breaks and incentives provided by the Act: Extension of 50...

Small Business Jobs Act of 2010

By Mitchell R. Kops , Sanford J. Davis , and William J. Kambas President Obama recently signed into law the Small Business Jobs Act of 2010 (the "Act"). After stalling in Congress earlier this year, the Act progressed rapidly in the month of September as the Senate and House approved...

Small Business Jobs Act of 2010

By Mitchell R. Kops , Sanford J. Davis , and William J. Kambas President Obama recently signed into law the Small Business Jobs Act of 2010 (the "Act"). After stalling in Congress earlier this year, the Act progressed rapidly in the month of September as the Senate and House approved it...

To Encourage Investment, Small Business Jobs Act Includes Short-Term Full Exclusion from Gross Income of Gain from QSBS

By Julia D. Corelli and Laura D. Warren On September 27, 2010, President Obama signed into law the Small Business Jobs Act of 2010 (H.R. 5297), which included among many other provisions, a short-term 100 percent exclusion (subject to per issuer limitations) from gross income of gain derived...

The American Recovery and Reinvestment Act of 2009 and The Small Business Jobs Act of 2010 Reduce Tax Imposed on Certain Asset Sales by S Corporations in 2010 and 2011

By Lisa Petkun and Timothy Leska The American Recovery and Reinvestment Act of 2009 (the Stimulus Bill) eliminates the imposition of tax upon certain S corporations (but not their shareholders) in taxable years beginning in 2009 and 2010. Recently, President Obama signed into law the Small Business...

Small Business Jobs Act of 2010: Zero Tax Investments

A part of the Small Business Jobs Act that President Obama signed recently relates to investments made between September 27 and December 31, 2010. Gains on such investments, if they qualify, will not be taxed at the federal level. This law is meant to serve as an incentive for private investments into...

Manifold Tax Implications in Small Business Jobs Act of 2010

The Small Business Jobs Act of 2010 was signed into law by President Obama on September 27, 2010. The bulk of the bill focuses on providing loans to small businesses, but the bill contains numerous tax provisions as well. Small Business Jobs Act of 2010: An Analysis by Gerald W. Paulukonis, Esq. provides...

Sutherland Legal Alert: Repeal of Expanded Form 1099 Reporting Requirements Signed into Law

By William R. Pauls , Carol P. Tello , and Robert S. Chase On April 14, 2011, the President signed into law H.R. 4, the Comprehensive 1099 Taxpayer Protection and Repayment of Exchange Subsidy Overpayments Act of 2011 (the Act), which repeals the expanded Form 1099 reporting requirements for businesses...