5 New Tax Developments To Consider
6 minutes read
1. Cell phones.The Small Business Jobs Act of 2010 (Pub. L. No. 111-240) made it easier for employers to claim income tax deductions for the cost of providing cell phones to employees. Starting with 2010, deductions have been allowed without detailed recordkeeping regarding personal and business use of the cell phones. However, in the wake of the tax law change, a big question remained: How are employer-provided cell phones treated on the employee end?