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House Passes Small Business Jobs Act of 2010

Posted 12:56 AM by

The House has passed the Small Business Jobs Act of 2010. Approved by the Senate last week, the bill provides various provisions aimed to stimulate small business growth, including those in the manufacturing and distribution, life sciences, technology, and healthcare industries. Examples of the many provisions are as follows:

  • $30 billion fund to provide community banks with capital to increase small business lending.
     
  • Increased Section 179 expensing limitations for qualifying capital expenditures equal to $500,000 in 2010 and 2011.
     
  • Extended 50% bonus depreciation in 2010 for qualifying capital expenditures.

These are just a few of the many provisions found in the bill. Additional information, including the bill, can be found here.

About the Author
Jason Patch is a partner in Katz, Sapper & Miller’s Audit and Assurance Services Group and leads the firm’s Manufacturing and Distribution Services Group. Jason works with clients to ensure accurate financial reporting, keeping an eye on their bottom line, helping them avoid risk, and maximizing efficiencies. Connect with him on LinkedIn.

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