Small Business Jobs Act of 2010

09/13/2011
Small Business Jobs Act of 2010
Increase of Section 179 Expensing and Expansion to Certain Real Property
The act allow corporation to write off in the extended tax retune due on 09/15/2011, up to a maximum of $500,000 in section 179 expenses. The cost is subject to phase-out at $2,000,000 of assets placed in service in 2010. Within those thresholds, the Act allows taxpayers to expense up to $250,000 of the cost of qualified leasehold improvement property, qualified restaurant property, and qualified retail improvement property.
Extension of Bonus Depreciation
Corporation can claim on extended return due on 09/15/2011 a bonus depreciation of up to 50% of the cost of qualifying property purchased and placed in service in 2010.