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NASE Staff Blog NASE on Micro-Business
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Tuesday, May 18, 2010
Posted by Kristie Arslan – Found deep within the new health reform law is a little known provision that will increase tax regulation on America’s small businesses beginning in 2012. Yes, that’s right. Not only did our policymakers pass a health reform bill that will provide little to no bottom-line savings for the self-employed and micro-businesses, but they paid for a portion of their “reform” efforts by heaping additional IRS reporting requirements, paperwork and fines onto the backs of our nation’s job creators. The IRS currently has a reporting requirement for businesses who hire independent contractors. If a business hires ...
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Monday, May 17, 2010
Posted by Molly Nelson - The IRS released guidance today on the new health care tax credit under the Affordable Care Act to help small businesses determine whether they qualify
for the credit and estimate the amount of the credit they may receive.
According to the IRS guidance, small businesses that receive state health care tax credits may still qualify for the full federal tax credit, and small businesses are allowed to receive the credit for additional dental and vision coverage as well as regular health insurance.
The credit is designed to encourage small employers to offer health insurance coverage ...
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Thursday, April 29, 2010
Posted by Kristie Arslan - Have you checked your mailbox lately? If so, you may have noticed a postcard from the IRS indicating that if you have a small business, you may be eligible for the Small Business Health Care Tax Credit. Many small business owners and self-employed individuals are confused about what assistance is now available to help pay for health coverage since the health reform legislation has become law. Here is some guidance on whether you can expect to see any benefit from reform. Small Business Health Care Tax Credit This new tax credit kicks in immediately and is available until ...
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Thursday, January 14, 2010
Prior to preparation of the 2009 tax forms, the self-employed and micro-businesses (fewer than 10 employees) should be aware of a few tax law changes, including alterations to the standard mileage rate and the self-employment tax. “January is a great time to get a jump on your 2009 tax return,” said Keith Hall, national tax advisor for the NASE. “The earlier a business owner can get organized, the more likely he or she will have the time to investigate eligibility requirements for additional tax benefits.” The following tax law changes relate to 2009 returns: Homebuyer Credits – If you operate ...
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Wednesday, November 11, 2009
Posted by Maureen Petron -- Retirement planning and saving is hard enough for micro-business owners. But add in a few employees, and the issues compound – what plan, what paper work, what contributions…
The IRS recently launched a new Web site to help answer these questions. The IRS Retirement Plans Navigator helps small employers find the plan that’s right for their business. It focuses on three main components: choosing a plan, maintaining a plan, and correcting a plan (if you’ve made a mistake).
It even has a pretty extensive plan comparison table. Check it out and start ...
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Monday, September 07, 2009
Posted by Molly Nelson - Determining the proper classification of workers can be a tricky proposition for many small-business owners. Hiring workers as employees or as independent contractors can impact many aspects of operating your business - the amount of taxes you pay, the amount of taxes you withhold from workers' paychecks, what documents and information workers must provide to you, what tax documents you must give them - and a wrong classification could mean major headaches at tax time.
Don't forget to enjoy your last bit of summer, but be sure to check out these ten tips on classification ...
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Wednesday, August 19, 2009
Posted by Molly Nelson - Want to take advantage of the expanded business loss carryback provision from this year's economic stimulus legislation? If so, it's time to get started on that paperwork! Eligible calendar-year corporations have until September 15 to file a claim, and eligible individuals have until October 15 to choose the expanded carryback option.
Eligible small businesses that had expenses exceeding their income for 2008 can choose to carry the resulting loss back for up to five years instead of the usual two. This provision could mean a special and larger tax refund for eligible businesses because the ...
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Thursday, July 23, 2009
Posted by Molly Nelson - I will admit, with being in my 20s and not knowing what I could possibly do all day if I wasn't working (more time for yoga, I guess) means retirement isn't something on my mind a lot these days. However, after attending another IRS Small Business Forum this week and hearing from Anita Bower of the Tax Exempt and Government Entities - Employee Plans division of the IRS, I'm starting to think I should be doing more thinking. Did you know that according to the IRS, Americans will need 70 to 90 percent of their ...
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Tuesday, June 02, 2009
Posted by Molly Nelson - As part of February's American Reinvestment and Recovery Act,
eligibility for the work opportunity tax credit (WOTC) was expanded to
unemployed veterans and unskilled younger workers. The WOTC offers tax
savings to businesses that hire workers belonging to any of 12 targeted
groups, including unemployed veterans and unskilled younger workers. Have you hired someone between January 1st, 2009 and July 17th, 2009 that qualifies you for the credit? Make sure you submit Form 8850 before August 17th to request the required certification for these workers! For more information, details and guidance, check out IRS.gov.
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Tuesday, April 28, 2009
Posted by Molly Nelson - Briefly noted: The extension of employer-sponsored health insurance coverage
under COBRA as part of the economic stimulus bill goes into effect this
week. Firms with 20 or more employees are responsible for 65 percent
of health insurance premiums for former employees for up to nine
months. The IRS has information to help employers claim credit for these payments. President Obama's task force may be looking into changing SBA guidelines so that car dealerships could qualify for SBA loans.
While tens of thousands of dealerships are at risk of closing, the
average dealer has revenues ...
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Meet the NASE Staff Bloggers 
Keith Hall - My official title at the NASE is COO, which I think is Latin for “do what everyone tells me to do.” I’m also behind the NASE TaxTalk program,
although I often feel like I’m under the NASE TaxTalk program. One of
my favorite things to do is laugh, second only to making a difference.
 Keith on Twitter
 Keith on LinkedIn
Molly Nelson - I help out with the NASE’s legislative advocacy, communications, and
public relations. From attending hearings on the Hill to helping select
the cover design for the member magazine, I’ve always got something new
going on. I like practicing yoga, running through different parts of
the city, and I’m an admitted etymology/grammar nerd.
Molly on Twitter
Molly on LinkedIn
Kristin Oberlander - In public affairs, my job is to serve as a link between the
association, micro-businesses and the media. When I have down time, I
enjoy drinking large quantities of coffee, contemplating how I will
cram one more pair of (un)needed shoes into my closet and finding
creative ways to remove my dog’s hair from my clothes, car, own hair
and food. My biggest pet peeve is drivers who don’t understand 4-way
stops.
Kristin on Twitter
Kristin on LinkedIn
Maureen Petron - I cover communications for the NASE, which means everything from the
member magazine to programs like our achievement award and college
scholarships (yes, I actually get to show up like Ed McMahon with a big
check twice a year!). In my fantasy world, I’d be a master chef, wine
snob and fast runner.
Maureen on Twitter
Maureen on LinkedIn
Kristie Arslan - I head up the advocacy efforts for the NASE, thus I spend most of my time on Capitol Hill educating legislators on how key issues such as health care, tax, and the lagging economy affect the self-employed. When I am not running around trying to convince policymakers to pay attention to micro-business, I spend my time singing nursery rhymes to my daughter and helping my husband with his small business.
Kristie on Twitter
Kristie on LinkedIn
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