Tax-Free Opportunity for Investments in Small Business Extended Through 2011

As discussed in our blog for Nov. 23, 2010, the government enacted the Small Business Jobs Act of 2010 (“SBJA 2010”) in late September of 2010. Among other things, SBJA 2010 provides for an exclusion of 100% of the gain realized on the sale of certain qualified small business stock (“QSBS”) held for at least…

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Tax-Free Opportunity for Investments in Small Businesses

In late September of this year, the federal government passed the Small Business Jobs Act of 2010 (“SBJA 2010”). Among other things, SBJA 2010 provides for an exclusion of 100% of the gain realized on the sale of certain qualified small business stock (“QSBS”) held for at least five years, if such QSBS is acquired…

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Obama Signs “Plain Writing Act of 2010” into Law

On October 14, President Obama signed H.R. 946, the Plain Writing Act of 2010 (the “Act”) into law. The Act requires all government agencies, including the IRS, to draft “covered” public documents in “plain writing.” “Covered” documents include documents that – (i) are necessary for obtaining any Federal Government benefit or service or filing taxes;…

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Small Business Act Signed into Law

On September 27, 2010 the President signed the Small Business Jobs and Credit Act of 2010 (the “Act”) into law.  The Act provides for more than $40 billion worth of tax benefits aimed to support economic growth among small businesses. In summary, the Act provides – Increased deductions under Section 179 of the Internal Revenue…

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