Small Business Jobs Act of 2010: What's in it for Internet Startups and Freelancers

Yesterday President Obama signed the Small Business Jobs Act of 2010 into law, providing access to loans and tax cuts for small businesses to encourage growth. While many of these measures are aimed at manufacturing companies, there are some that give even the smallest Internet-based startup or freelancer a break on their next tax return:

• Increase in amount allowed as deduction for startup expenditures in 2010 from $5,000 to $10,000. These are expenses incurred while you are setting up or researching a new business and may include the cost of advertising, travel, market research or training employees prior to opening the business.