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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