Oct 18

Written by: Stephen Stafford, J.D., LL.M.
10/18/2010 3:18 PM  RssIcon

The Small Business Jobs Act of 2010 removes cell phones and similar telecommunications equipment from the definition of “listed property.” Consequently, for tax years beginning after December 31, 2009, the heightened substantiation requirements and special depreciation rules that apply to listed property no longer apply to cell phones. This makes it easier for almost all small businesses to deduct or expense the use of cell phones.

To see the entire blog and read about some of the Act’s additional tax breaks for entrepreneurs and small businesses, click on the link below.

Tax Breaks for Entrepreneurs and Small Businesses in Small Business Jobs Act of 2010.pdf