I’ve just released, in the Legislation section of this site, a review of the HIRE Act 2010’s primary provisions.
The primary benefits of this Act are 1) the exemption from OASDI (Social Security) withholding tax for the remainder of 2010 for employers who hire folks who have been unemployed for 60 days prior to their hiring; plus 2) a tax credit for retaining those same employees for at least 52 consecutive weeks at the same level of pay or more.
The Act also extended one of the expired provisions from last year – known as a Section 179 expense limit, which is a special method of accounting for otherwise depreciable items via direct expense in the first year. This provision simply extended the more liberal limit from the previous year.
As always, consult your tax advisor for more information.
Photo by jay
Sterling Raskie, MSFS, CFP®, ChFC®
The latest in our Owner’s Manual series, A 401(k) Owner’s Manual, was published in January 2020 and is available on 
A Medicare Owner’s Manual, is updated with 2020 facts and figures. This manual is available on 
Social Security for the Suddenly Single can be found on Amazon at 
Sterling’s first book, Lose Weight Save Money, can be 
An IRA Owner’s Manual, 2nd Edition is available for purchase on Amazon. Click the link to choose the 
Jim’s book – A Social Security Owner’s Manual, is now available on Amazon. Click this link for the 
And if you’ve come here to learn about queuing waterfowl, I apologize for the confusion. You may want to discuss your question with Lester, my loyal watchduck and self-proclaimed “advisor’s advisor”.