--- title: Small Business Jobs Act description: summary of the new small businees jobs act --- office@approdevelopment.com info@cerron.com [![Commercial Real Estate Solutions Providers - Appro and Cerron](https://blog.approdevelopment.com/hs-fs/hubfs/raw_assets/public/ApproDevelopment_Oct2020/images/dual_logo_400_offset2.png?width=400&height=225&name=dual_logo_400_offset2.png "Commercial Real Estate Solutions Providers - Appro and Cerron")](https://approdevelopment.com/) - [Home](https://approdevelopment.com/) - [Appro Design & Build](https://approdevelopment.com/design-build/) - [Current Projects](https://approdevelopment.com/design-build/current-projects/) - [Land Development](https://approdevelopment.com/design-build/land-development/) - [Design & Build](https://approdevelopment.com/design-build/design-build/) - [General Contractor](https://approdevelopment.com/design-build/general-contractor/) - [Completed Construction Projects](https://approdevelopment.com/design-build/completed-projects/) - 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[Space Calculator](https://approdevelopment.com/space-calculator/) - [Lean Principles](https://approdevelopment.com/services/lean-principles/) - [Finance Resources](https://approdevelopment.com/design-build/finance-resources/) - [1031 Tax Deferred Exchange](https://approdevelopment.com/design-build/1031-tax-deferred-exchange/) - [Cost Segregation](https://approdevelopment.com/design-build/cost-segregation/) - [Subcontractor Info](https://approdevelopment.com/design-build/subcontractor-info/) - [Property Owner](Javascript:void(0);) - [Building Maintenance Checklist](Javascript:void(0);) - [Blog](https://blog.approdevelopment.com/)   # **APPRO and CERRON Blog**   # Small Business Jobs Act Published by [Bruce Rydeen](https://blog.approdevelopment.com/author/bruce-rydeen) on Oct 1, 2010 9:58:47 AM The Small Business Act of 2010 has just been approved by Congress with many benefits to small business owners and individuals. We received the article shown below from our accountant KDV- this is a good recap. It might be a good time to discuss the benefits of this progam with your accountant. I look forward to any other info someone has about the Act- please post or pass on. Article from KDV- Small Business Jobs Act **Small Business Jobs Act benefits more than just small businesses** **The Small Business Jobs Act of 2010 (SBJA) has just been passed by Congress, and it benefits more than** **just small businesses. It also provides tax-saving opportunities for larger businesses and individuals —** **including small-business investors, the self-employed and employees saving for retirement.** ****Changes affecting businesses**** *****Section 179 expensing.***** *****the Internal Revenue Code Sec. 179 expensing election limit. For tax years beginning in 2010 and 2011, the***** *****limit will now be $500,000, with a dollar-for-dollar phaseout starting when purchases for the year exceed $2***** *****million.***** *****SBJA also temporarily expands the definition of eligible property to include qualified leasehold-improvement,***** *****restaurant and retail-improvement property. The maximum amount of such property that can be expensed is***** *****$250,000.***** *****SBJA helps small-business owners invest in their own businesses by increasing*************Bonus depreciation.******** ********property, generally if acquired in calendar year 2010. Businesses can recover the costs of qualifying******** ********depreciable property more quickly by immediately deducting 50% of the cost. Bonus depreciation isn’t******** ********subject to any asset purchase limits, so businesses ineligible for Sec. 179 expensing can take advantage of******** ********it.******** ********Property that qualifies for bonus depreciation includes tangible property with a recovery period of 20 years******** ********or less, computer software purchased by the business, water utility property, and qualified leasehold******** ********improvement property.******** ********Another depreciation-related provision extends the special allowance for certain*******************Other key changes.*********** ***********Here are some additional changes businesses should be aware of:**********************•*********** ***********New five-year carryback of the general business credit,**********************•*********** ***********Increase in the start-up expenditures deduction,**********************•*********** ***********Shortening of the S corporation built-in gains period, and**********************•*********** ***********requirements and special depreciation rules.*********** ***********Removal of cell phones from the definition of “listed property” that’s subject to tighter substantiation************************Changes affecting individuals************* **************Exclusion on small business stock gains.************** **************SBJA temporarily increases the qualified small business (QSB) stock gain exclusion. The exclusion will be************** **************100% for stock acquired after SBJA’s enactment date (that is, the date the president signs it into law) and************** **************before Jan. 1, 2011, that’s held for at least five years. Additionally, the act eliminates the alternative************** **************minimum tax (AMT) preference item on such gain, making it tax free for AMT purposes as well.************** **************To make investing in certain small businesses more attractive,*******************************Self-employment tax.***************** *****************purposes any costs incurred in 2010 for health insurance for you and your spouse, dependents and children***************** *****************age 26 or under.***************** *****************If you’re self-employed, SBJA permits you to deduct for 2010 self-employment tax*************************************Roth 457(b) plans.******************** ********************may allow your employer to start providing you the option to designate some or all of your contributions as******************** ********************Roth contributions. The contributions won’t reduce your taxable income, but you won’t have to pay any tax******************** ********************on qualified distributions.******************** ********************If you’re a government employee who participates in a 457(b) plan, be aware that SBJA*******************************************401(k), 403(b) or 457(b) rollovers to Roth accounts.*********************** ***********************allow (but isn’t*********************** ***********************The amount of the rollover would be includible in your taxable gross income — except to the extent it’s the*********************** ***********************return of any after-tax contributions. If the rollover is made in 2010, you can elect to pay the tax over a twoyear*********************** ***********************period in 2011 and 2012.*********************** ***********************Under SBJA, your 401(k), 403(b) or 457(b) plan may***********************************************required to allow) you to roll any portion of your pretax account balance into a Roth account.**How you can benefit************************** **************************Whether or not you’re a small-business owner, you may be able to reap significant tax savings by taking************************** **************************advantage of the opportunities SBJA offers. We’d be pleased to help you determine exactly how you can************************** **************************benefit.************************** I hope you find this information beneficial. For more great information about our [commercial design build](http://www.approdevelopment.com/design-build/design-build/) and [general contractor services](http://www.approdevelopment.com/design-build/general-contractor/) as well as all of your [commercial real estate and property](http://www.approdevelopment.com/real-estate/) needs, please contact us today Tags: [Financial Topics](https://blog.approdevelopment.com/topic/financial-topics) [Back to Blog](https://blog.approdevelopment.com) ## Related Articles ## [Finding the Right Commercial Building for your Small Business](https://blog.approdevelopment.com/finding-the-right-commercial-building-for-your-small-business) Searching for the right commercial building for your business can be daunting Finding the right... 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