Code Section 195
| Code Section | Effective Date | Name of Act | Name of Provision | 10yr Revenue Estimate ($millions) |
|---|---|---|---|---|
| 195 | 12/31/2009 | The Small Business Jobs Act of 2010 | Increase amount allowed as deduction for start-up expenditures | -230 |
Increase amount allowed as deduction for start-up expenditures
Explanation of Provision
For taxable years beginning in 2010, the provision increases the amount of start-up expenditures a taxpayer can elect to deduct from $5,000 to $10,000 and increases the deduction phase-out threshold such that the $10,000 is reduced (but not below zero) by the amount by which the cumulative cost of start-up expenditures exceeds $60,000.
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