NASE Press Releases

Small Biz Lending Fund Wins Key Vote In Senate

koberlander — Tue, 27 Jul 2010 14:54:10 GMT

For Immediate Release:

Contact:

Kristin Oberlander
(202) 466-2100
koberlander@NASEadmin.org
Twitter: NASEtweets

Amendment Would Offer Incentives To Banks To Encourage Lending

Washington, D.C., July 27, 2010 – After days of contentious dialogue among Democrats and Republicans, an amendment to create a $30 billion lending fund for small businesses passed its first key vote in the Senate leading the way to further debate and a vote on the Small Business Jobs Act (H.R. 5297). S. Amdt 4500 would give small banks, credit unions and similar-sized affiliates a booster (in the form of lower interest rates) to make loans to micro-businesses. The lending fund has the support of the White House and the National Association for the Self-Employed (NASE).

“With so many bills in consideration before the August congressional recess, it is important that lawmakers keep the momentum going on this vital small business legislation,” said Kristie Arslan, executive director of the NASE (Legislative Offices). “Congress had no qualms providing Wall Street with assistance, now it is time that Main Street get the help they need. We strongly urge the Senate to act now to ensure that the self-employed finally get some relief.”

The parent legislation for the lending fund amendment is the Small Business Jobs Act of 2010. The bill includes key policies that the NASE believes are beneficial to micro-businesses and the self-employed. In addition to containing a one-year business deduction for health care costs, it also increases aid to start-up businesses (up to $10,000 in deduction costs with a $60,000 phase-out) and increases Section 179 expensing ($500,000 with a $2 million phase-out in 2010 and 2011).

America’s Smallest Businesses May Finally Get Much-Needed Relief

koberlander — Tue, 13 Jul 2010 16:24:27 GMT

For Immediate Release:

Contact:

Kristin Oberlander
(202) 466-2100
koberlander@NASEadmin.org
Twitter: NASEtweets

Small Business Jobs Act Addresses Key Health And Tax Priorities For The Self-Employed

Washington, D.C., July 13, 2010 – The self-employed and micro-businesses are often overlooked by lawmakers when it comes to policy, but that may be about to change. The Senate is considering legislation called the Small Business Jobs Act of 2010 (H.R. 5297). This bill contains key provisions that may help America’s smallest businesses in this difficult economic climate, according to the National Association for the Self-Employed (NASE).

A long-standing priority for the NASE has been included in the Small Business Jobs Act, allowing the self-employed to take a one-year business deduction for health care costs. Sole proprietors are unable to deduct their health insurance costs as a business expense, leaving them to pay more in payroll (self-employment) taxes than any other business. The NASE has been working for many years to allow the self-employed to receive the same tax treatment of health insurance costs as all other business entities. While the NASE has been working to permanently correct this inequity in the tax code, the one-year deduction in the Small Business Jobs Act is an important first step in leveling the playing field for the 23 million self-employed Americans.

To further address the needs of our nation’s smallest businesses, Sen. Barbara Boxer (D-Calif.) has offered a vital amendment to the bill, S. Amdt #4430, which helps simplify the tax code for home-based businesses. With over half of all small businesses being run out of the home, the home office deduction is an important tax benefit for small businesses. Unfortunately, the complexity and paperwork burden associated with the home office deduction drives many qualifying business owners to forgo this tax assistance. S. Amdt. #4430 would create the option of a standard home office deduction, allowing eligible business owners to avoid the complex calculations and simply opt for the standard deduction amount. The NASE is strongly urging passage of this amendment.

“Congress and the Administration give a lot of lip service to small business in regards to rebuilding the economy,” remarked Kristie Arslan, executive director of NASE’s Legislative Offices. “But here are two key proposals that would make a tangible difference in their bottomline. For a one- to two-person company, small tax benefits turn into real cash that can actually facilitate business growth.”

Other key provisions included in the Small Business Jobs Act which will provide entrepreneurs with a boost include:

Increased deduction for start-up expenses - currently, entrepreneurs can deduct up to $5,000 of expenses with a $50,000 phase-out. The bill would increase the deduction to $10,000 with a $60,000 phase-out threshold beginning in 2010.
Increase of Section 179 expensing to $500,000 with a phase-out threshold of $2 million in 2010 and 2011.
Creation of a Small Business Lending Fund which would provide federal funding to community banks, credit unions and community development loan funds to increase small business lending.

The NASE strongly supports the Small Business Jobs Act of 2010 and S. Amdt. #4430. We believe the combination of tax incentives and financing options will help new businesses build a solid foundation and help existing businesses keep their doors open. Healthy businesses mean healthy families and communities.

Micro-Businesses Want A National Energy Policy

koberlander — Fri, 25 Jun 2010 18:21:47 GMT

For Immediate Release:

Contact:

Kristin Oberlander
(202) 466-2100
koberlander@NASEadmin.org
Twitter: NASEtweets

Cite Tax Credits And Reducing Oil Dependency As Top Priorities

Washington, D.C., June 25, 2010 – Despite a challenging economic climate, saving on energy costs remains a priority for many small business owners. Fifty percent of micro-business owners have made efforts to reduce their energy costs by implementing energy-saving measures in their home and business, according to a study undertaken by the NASE. Forty percent of respondents indicated they had implemented energy-saving measures in their home only, while only nine percent of respondents indicated they had not undergone any energy-saving changes in their home or business.

In light the current oil spill in the Gulf of Mexico, 59 percent of small business owners believe that policymakers should prioritize a national energy policy. The priorities of small business owners in regards to the components of a national energy policy were closely divided between reducing dependence on oil (25 percent), avoiding the imposition of overly burdensome and costly regulations on businesses (23 percent), saving their family and business money on energy costs (21 percent), and improving the environment and the quality of air and water (18 percent).

“Micro-businesses understand that a smart, forward-thinking energy policy will help small business and our nation in the long term. Reducing our dependence on oil by cultivating clean energy will create jobs and business opportunities for small businesses while also lowering energy costs for entrepreneurs and all Americans,” commented Kristie Arslan, executive director of NASE’s Legislative Offices.

When asked about specific energy proposals suggested by Congress and the Administration, micro-business owners were in favor of tax credits and proposals to reduce oil dependency. Eighty percent of survey respondents favored tax credits to individuals who implement specific energy-saving measures in their homes, and 76 percent favored grants and tax credits to small businesses to help them afford implementation of energy-saving measures in their business. Sixty percent favored increasing the use of nuclear power and the creation of new power plants, while 61 percent favored tax subsidies to energy companies to encourage the expansion of alternative energy sources. However, 58 percent of respondents opposed the creation of a cap-and-trade system that would limit emissions of greenhouse gases.

Almost half (49 percent) of survey respondents indicated they were willing to undergo and pay for the implementation of energy-saving measures in their home and/or business. Of those that were unsure or unwilling to implement these measures, 46 percent indicated that this was due to cost.

For the full survey results, please visit NASE's Research & Statistics website.

Methodology:
Posted on the NASE Web site, the survey was available for members and other small business owners to take in June. Over 400 small business owners opted-in to the online survey and respondents were prohibited from taking it more than once.

About the NASE
The National Association for the Self-Employed (NASE) is the nation’s leading resource for the self-employed and micro-businesses, bringing a broad range of benefits to help entrepreneurs succeed and to drive the continued growth of this vital segment of the American economy. The NASE is a 501(c) (6) non-profit organization and provides big-business advantages to hundreds of thousands of micro-businesses across the United States. For more information, visit the association’s web site at www.nase.org

Self-Employed Send A Message to Washington With Viral Ad Campaign

koberlander — Mon, 14 Jun 2010 12:33:32 GMT

For Immediate Release:

Contact:

Kristin Oberlander
(202) 466-2100
koberlander@NASEadmin.org
Twitter: NASEtweets

“25 Million Jobs And Billions To The Economy Is Not So ‘Bunny’”

Washington, D.C., June 14, 2010 – The National Association for the Self-Employed (NASE) launched a digital advertising campaign today that seeks to raise awareness of the policy priorities of the self-employed and micro-businesses while combating the stereotype that the nation’s smallest businesses do not make serious contributions to the economy. The ads, which are running on inside-the-beltway news Web sites, depict a self-employed business owner wearing a suit, tie…and bunny slippers.

“We are undertaking this public awareness effort to shake up the unfortunate perception that if you are your own boss and work from home, your job is not as valuable as an office or factory job,” says Kristie Arslan, executive director of the legislative offices of NASE. “Not only do the self-employed contribute nearly a trillion dollars to our nation’s economy every year, but their businesses allow them to successfully provide for their families and contribute to their local communities.”

The vast majority – 95% – of all small businesses in the United States are either self-employed entrepreneurs or micro-businesses with fewer than 10 employees. There are about 25 million such businesses, which may have a storefront or be run out of a home office. Their small size makes them acutely aware of economic conditions and policy changes.

Though vulnerable to tough economic times, self-employed businesses have grown faster than all other segments of the economy in recent years and are historically a key driver of economic recovery after a recession. In fact, business startups reached their highest levels in 14 years during 2009, suggesting that laid-off workers are choosing to join the ranks of the self-employed rather than take their chances in a job market that remains unstable.

“With a growing number of Americans embracing entrepreneurialism, Washington should be finding ways to support self-employment and help them drive the country’s economic recovery,” continues Arslan. “Instead, we see a systemic behavior by our policymakers of publicly touting the importance of small business in this economic climate while they quietly issue backdoor rules and regulations that are ultimately pulling the rug out from under America’s entrepreneurs.”

Some examples of current policy issues that have dramatic negative impacts on the self-employed include:

New IRS reporting requirements that will force any business that pays more than $600 per year to a vendor for business services, inventory or property to issue a Form 1099 to that vendor;
Continued lack of a standard home office tax deduction that would allow millions of self-employed individuals access to tax relief to which they are entitled; and
Exclusion from the small business health care tax credit in the recently passed health reform law if you are self-employed or hire family members in your business, leaving the self-employed to face skyrocketing health care costs in the years ahead.

NASE’s “bunny slippers” campaign includes members of the organization, including a tax accountant, a graphic designer and a disc jockey. To learn more about the campaign and NASE’s legislative priorities, please visit http://www.NASE.org/campaigns/NotSoBunny.

New Law Increases Paperwork for Self-Employed Over A Thousand Percent

koberlander — Wed, 26 May 2010 01:14:23 GMT

For Immediate Release:

Contact:

Kristin Oberlander
(202) 466-2100
koberlander@NASEadmin.org
Twitter: NASEtweets

Expanded Reporting Requirement Requires Business Owners to File IRS Form 1099s for All Payments to Vendors Over $600 Annually

Washington, D.C., May 25, 2010 – Many of the nation’s entrepreneurs are about to become more familiar with IRS Form 1099. According to a new law set to go into effect in 2012, business owners will be required to submit a Form 1099 for every payment made via check or credit card to vendors for services, inventory or property over $600 annually. A new survey by the National Association for the Self-Employed (NASE) found that the self-employed and micro-businesses (those with fewer than 10 employees) are overwhelmingly expecting this new regulatory burden to greatly or somewhat increase the amount they spend on tax preparation.

The Form 1099 reporting system has historically been utilized for payments made to independent contractors. According to NASE’s survey, micro-businesses reportedly received an average of four Form 1099s from clients or customers and issued an average of two Form 1099s to contractors in the most recent tax year. Under the new expanded regulation, small-business owners have estimated that they will have to issue roughly 27 Form 1099s, mostly to large corporations. This is a 1250% increase in the amount of paperwork that will be required of small-business owners come 2012.

“To the mom and pop shop, time is money, and this new regulation is going to require plenty of both,” remarked Kristie Arslan, NASE executive director (legislative offices). “The bottom line is that the Form 1099 expanded reporting requirement affects companies small and large, increasing the number of forms issued and received many times over.”

As part of the new expanded Form 1099 reporting requirement, businesses will be required to obtain accurate Taxpayer Identification Numbers (TINs) from all qualifying vendors. Should the business owner be unable to do so, they would be required to withhold a portion of that vendor payment and send it to the IRS. With over 40 percent of survey respondents still preparing their taxes on their own, this added administrative workload will significantly increase the time business owners spend on paperwork and/or force them to hire an accountant, adding to the cost of doing business in this difficult economic time.

Micro-businesses across the board were concerned about the implementation and consequences of this new reporting requirement:

Like most small business owners, I run a business that allows me to sell my expertise in a certain area. Unless that area is tax preparation, there's not a single small business that won't be adversely affected by this regulation. Small business owners and entrepreneurs know they have to devote a certain amount of time to administrative tasks, but the successful business is the one that keeps administrative items to a minimum, and spends the most time on clients and customer services. This is a ridiculous plan, and punitive against small business.

I have a hard enough time doing my taxes already. This will dramatically increase the time burden and cost. I may have to let go of an employee so I can instead pay an accounting service to handle my accounting and taxes.

I work as an accountant for small non-profits and small businesses. These reporting requirements will greatly increase the amount that they will need to pay for their accounting services.

Ridiculous! Get out of our way and let us do our jobs!

NASE is currently working to repeal this onerous regulation on the micro-business community. Rep. Daniel Lungren has introduced the Small Business Paperwork Mandate Elimination Act (H.R. 5141), which would repeal this expanded reporting requirement.

To view full survey results, visit the NASE Research page: http://www.nase.org/Media/ResearchStatistics/SurveyResults.aspx

Methodology:

Posted on the NASE Web site and distributed to NASE’s membership via e-mail and association newsletters. The survey was available for members and other small business owners to take in May. Over 300 small business owners opted-in to the online survey and respondents were prohibited from taking it more than once.

Kristie Arslan is available for more information about the poll or micro-businesses. Please contact Kristin Oberlander by phone at 202-466-2100 or by email at koberlander@nase.org with additional questions or to schedule an interview.

National Small Business Week: May 23rd – 25th

mnelson — Mon, 24 May 2010 20:25:00 GMT

For Immediate Release:

Contact:

Kristin Oberlander
(202) 466-2100
koberlander@NASEadmin.org
Twitter: NASEtweets

President Obama, NASE, SBA Honor Self-Employed And Micro-Businesses

Washington, D.C., May 24, 2010 – According to the Small Business Administration (SBA), approximately 60 percent of Americans own or work for a small business. The National Association for the Self-Employed (NASE) is teaming up with the SBA again to sponsor National Small Business Week 2010. For nearly fifty years, one week has been set aside annually in order to honor the contributions of the nation’s small business community. The NASE works with the SBA to help increase access to capital and lends our support to federal initiatives that have proven helpful to micro-business growth.

“This week, we celebrate the role of entrepreneurs and small businesses in our national life. They are the engine of our prosperity and a proud reflection of our character,” said President Barack Obama. “A healthy small business sector will give us vibrant communities, cutting edge technology, and an American economy that can compete and win in the 21st century.”

The full text of the President’s National Small Business Week proclamation can be found at:
http://www.whitehouse.gov/the-press-office/presidential-proclamation-small-business-week

"This past year has seen a new social and political focus on the importance of micro-businesses and the self-employed,” said Robert Hughes, NASE president. “Small Business Week offers a formal opportunity to join in recognizing the innovative potential of the largest business type in the nation – self-employed firms."

For information on National Small Business Week, please visit http://nationalsmallbusinessweek.com/.

Main Street, Consumers One Step Closer To Accountable Wall Street

karslan — Fri, 21 May 2010 20:39:48 GMT

For Immediate Release:

Contact:

Kristin Oberlander
(202) 466-2100
koberlander@NASEadmin.org
Twitter: NASEtweets

New Consumer Financial Protection Bureau Must Consider Small Business Impact Of New Regulations

Washington, D.C., May 21, 2010 – The effort to ensure a safer, more consumer-friendly Wall Street moved one step closer to success with the passage Thursday night of the Restoring American Financial Security Act in the Senate. Details of the final bill will now be reconciled between the House (H.R. 4173) and Senate (S. 3217), but the essence remains the same: create a consumer watchdog to protect against hazardous financial situations, regulate banks more closely and streamline massive institutions before they have a chance to fail.

– The effort to ensure a safer, more consumer-friendly Wall Street moved one step closer to success with the passage Thursday night of the Restoring American Financial Security Act in the Senate. Details of the final bill will now be reconciled between the House () and Senate (), but the essence remains the same: create a consumer watchdog to protect against hazardous financial situations, regulate banks more closely and streamline massive institutions before they have a chance to fail.

“The self-employed and micro-businesses were hit particularly hard during the financial crisis and are still reeling from its effects,” commented Kristie Arslan, executive director (legislative offices), in a recent NASE Staff Blog post. “Much of their personal finances are tied up with their business finances. Their reliance on credit cards, lines of credit and home equity loans to help with the daily operating costs of their business left the self-employed especially vulnerable to unpleasant industry practices.”

The National Association for the Self-Employed (NASE), and other small business organizations, worked collectively to ensure that small business and the self-employed had a voice in this process. Due to the leadership of Senators Snowe (R-ME), Pryor (D-AR), Graham (R-SC), Menendez (D-NJ), Franken (D-MN), Shaheen (D-NH), Bond (R-MO) and Burris (D-IL), the Small Business Fairness and Regulatory Transparency Amendment (S. Amdt. 3883) was included in the final bill.

This provision ensures that the newly created Consumer Financial Protection Bureau will take a special look at rules which may impose significant costs on small business. It will also require the agency to prioritize minimizing the burden on small business during the drafting of new rules and regulations while also preserving consumer protections.

The self-employed and micro-business (those with fewer than 10 employees) have been vocal in the past three years about the actions of government, the financial services industry and consumers which led to the collapse of the economy. The NASE has consistently heard from members that, while oversight and accountability are essential to a healthy economy, increasing federal bureaucracy can increase the cost of doing business and impact small business access to credit. Micro-businesses strongly supported a balanced approach to regulating the financial service sector.

“The passage of the Restoring American Financial Security Act, with the inclusion of the Small Business Fairness and Regulatory Transparency Amendment, will help create a climate of accountability for Wall Street and ensure that small business consumers receive the protections they need while also protecting them from overly burdensome regulations,” remarked Kristie Arslan. “As Congress takes the final step towards financial reform, we urge legislators to keep these small business safeguards in the final bill.”

To read additional commentary on small business policy, visit the NASE Staff Blog.

Tax Tips For Procrastinators From NASE National Tax Advisor, CPA

koberlander — Wed, 31 Mar 2010 16:15:00 GMT

For Immediate Release:

Contact:

Kristin Oberlander
(202) 466-2100
koberlander@NASEadmin.org
Twitter: NASEtweets

Entrepreneurs Expected To File 23 Million Returns For 2009

Washington, D.C., March 31, 2010 – Tax Day is just a few weeks away, but is filing your return still on the ‘To Do’ list? It’s okay if you have not filed yet because the National Association for the Self-Employed (NASE) is offering some last minute tax tips to make the process go smoothly.

“From time to time, we have all gotten a later start on our taxes than we would like,” said Keith Hall, NASE’s National Tax Advisor. “If you file your business return with your personal return, you may be able to get an automatic 6-month extension by completing Form 4868 by April 15. But remember, an extension of time to file is not an extension to pay. If you do not send the IRS what you think you owe, you'll be stuck with late fees and interest.”

Hall offers these additional tips for tax procrastinators:

- Check for hidden deductions: There are a number of deductions that small-business owners and the self-employed forget when filing taxes. If you work out of your home, your office may qualify for a deduction. Do you drive to the post office or a client site? Those miles may add up to a sizable deduction too.

- Retirement savings: Retirement savings, such as SEP contributions and IRA deposits, are deductible for last year’s tax return up until April 15, 2010. That means you can count money deposited into these accounts, up until the day you file your 2009 tax return. In the case of SEP contributions, those can even be made up until an extended due date, as late as October 15th.

- Proofread the form: Most of the mistakes on tax returns are simple addition and subtraction errors. Check your math. Then, check your math again.

- Start thinking about next year: While micro-business owners may be tempted to finish their return and not think about taxes again until next year, now is a great time to reflect on how to reduce your 2010 tax liability. Consider deductions for a home office or employing your children; create a health reimbursement arrangement, which would enable the business to reimburse bona fide employees for all out of pocket medical expenses; reconsider the tax implications of incorporating your business; and research retirement plans designed specifically for the self-employed, including an IRA, SIMPLE, SEP, Single 401(k), and Keogh plan.

- Look for help: Sole proprietors doing their own taxes can find help from a number of sources, including the NASE’s Tax Resource Center, where you can ask the NASE’s expert CPAs a question and hear back within a few business days. The IRS also offers a Web site (http://www.irs.gov/) and toll-free help line, 1-800-829-1040, for your tax questions.

Nation’s Job-Creators Largely Oppose Health Reform Legislation

karslan — Fri, 19 Mar 2010 20:29:25 GMT

For Immediate Release:

Contact:

Kristin Oberlander
(202) 466-2100
koberlander@NASEadmin.org
Twitter: koberlander, NASEtweets

Bottom Line Cost Savings Most Important To The Self-Employed

Washington, D.C., March 19, 2010 – Companies with fewer than 10 employees – micro-businesses – are asking Congress to keep in mind that a big part of being able to create jobs and grow their companies depends largely on their ability to pay for health coverage. Self-employed business owners say that access to health care and choice in providers/benefits is less important to their businesses than cost; Pocketbook-watching factors such as stable premium costs and inclusive coverage not negated by health condition or age is of most importance to the nation’s smallest businesses. With the clock ticking down to a final vote in Congress on health reform legislation, the online poll conducted by the National Association for the Self-Employed (NASE) received over 1,200 responses regarding the concerns of the self-employed with health reform.

Survey Highlights:

• Lowering health premium costs and ensuring they do not continue to increase (42%) and reforming the insurance market so individuals cannot be denied coverage due to their health status or age (24%) were cited as MOST important to their businesses.

• Respondents cited increasing choice in health plans and benefit options (32%) and ensuring that the uninsured have access to health coverage (29%) as factors in the health reform package that were LEAST important to their business.

• Three in five micro-businesses say they do not support the current health care proposal. Twenty-eight percent support the proposal and 12% say they are undecided.

• Of those who said they did not support the current proposal, 58% say they do not want Government to become too involved with health care. Nearly one-quarter (23%) say the plan is too costly and will increase the deficit.

Responses from micro-businesses:

• “The insurance companies are currently enjoying a monopoly. Unless we introduce competition, costs will continue to escalate.”

• “All of the issues listed in the survey are important! Costs for self-employed business people are outrageous with little options available to us.”

• “Yes, we need health care reform but the massive plan they are trying to ram through now is filled with sweetheart deals, other legislation not related to health care, double talk and union deals. It needs to be scrapped and a new bill drawn up.”

• “I am not entirely happy with the current bill as I would have preferred a public option, but I think that the idea that everyone needs to have insurance and that one cannot be denied due to past history is crucial.”

• “[Policymakers] have not addressed how everybody pays their share of insurance.”

Full survey results are available online on the NASE’s Research & Statistics web page.

Methodology:
Posted on the NASE Web site, the survey was available for members and other small business owners to take in March. Over 1,200 small business owners opted-in to the online survey and respondents were prohibited from taking it more than once.

Kristie Arslan is available for more information about this poll and the self-employed perspective on health reform. Please contact Kristin Oberlander by phone at 202-466-2100 or by email at koberlander@nase.org with additional questions or to schedule an interview.

Tired Of Tracking Business Miles By Hand? We Have An App For That!

koberlander — Wed, 17 Mar 2010 18:40:05 GMT

For Immediate Release:

Contact:

Maureen Petron
(202) 466-2100
mpetron@NASEadmin.org
Twitter: NASEtweets

TripAlly For iPhone Uses Built-In GPS To Create Your Mileage Log

Washington, D.C., March 17, 2010 – New iPhone application TripAlly tracks, calculates and records miles driven to create the ultimate tax-deduction mileage log. Whether you need to track miles for your small business, charitable contributions, for employee reimbursement, or simply because you want to know, TripAlly can help.

TripAlly follows your entire trip using the iPhone’s built-in GPS – not just your starting and ending address – and stores mileage reports by purpose, month and year. Created by the National Association for the Self-Employed, TripAlly is the perfect solution for real estate agents, sales and delivery people, and anyone needing to record round-about routes for tax and reimbursement purposes.

Start each trip by simply touching the green “Start” button. The GPS pings location every .3 miles for an accurate record of the entire trip. At the trip’s end, assign a trip purpose, save it as a favorite route for easy repeats, and view your day, month and yearly mileage total. TripAlly even allows for manual trip entry by address.

Best of all, TripAlly is free to use on a trip-by-trip basis. Download the app and TripAlly will show a single trip’s miles, allowing you to keep track of the miles you drive in your own mileage log.

For a full mileage log, TripAlly can track everything for you. Register to get all TripAlly features -- categorize your trips, assign favorite routes, add manual routes, view trips by month and year, and print reports at your convenience. TripAlly makes it easy to track your business mileage deduction and expenses, all directly from your handheld device for only $9.99.

Registered Features:

Round-about route? TripAlly pings your GPS location every .3miles, not just your start and end location. Great for real estate agents, sales agents and anyone needing to track the miles they drive!
Go somewhere frequently? Save your route as a favorite, and add your trip to your total trip history with one touch.
Want to store more information? Categorize your trips by purpose, and add notes.
Forgot to add a trip? No problem – add one manually by entering your starting and ending locations, or repeat a favorite route.

There’s more at http://tripally.NASE.org!

Misplaced mileage log? Never a worry again with TripAlly. All the trip information for registered users is backed up online automatically! Access the information anytime.
Not sure what to do next? The NASE can help answer your business mileage questions, such as what line to record the miles on different tax forms, and the latest IRS mileage rates.
Make a mistake? Edit your trips easily and quickly online.
Afraid of an audit? Don’t worry about supporting your mileage deduction thanks to TripAlly. Store all your trips for the entire year, view and print reports at any time!

Record the miles you drive, and maximize your business tax deductions or business reimbursements with TripAlly. Download TripAlly at the iTunes App Store.

On Merlin Olsen...

koberlander — Fri, 12 Mar 2010 00:24:04 GMT

March 11, 2010 – Pro Football Hall of Famer, former television actor and NASE spokesperson Merlin Olsen has died. He was 69.

“Merlin was an incredible representative of the NASE to the small-business community,” said Robert Hughes, NASE president. “Our condolences go out to his family on behalf of myself, the NASE board of directors and the entire NASE team.”

How To Prepare Your Micro-Business For Future Audits

koberlander — Wed, 17 Feb 2010 19:05:39 GMT

For Immediate Release:

Contact:

Kristin Oberlander
(202) 466-2100
koberlander@NASEadmin.org
Twitter: NASEtweets

NASE National Tax Advisor Says ‘Don’t Panic’

Washington, D.C., February 17, 2010 – Since last November, the Internal Revenue Service (IRS) has undertaken a three-year campaign to review the tax records of nearly 6,000 randomly chosen businesses as part of their National Research Program. The goal is to figure out which areas of the tax code lead to greater noncompliance. The data collected is intended to help the IRS minimize the tax gap, or the amount the agency is owed versus the amount it collects each year.

The National Association for the Self-Employed (NASE) knows that many self-employed business owners meet their tax obligations fully, so the audit process need not be feared. For this particular round of IRS audits, business owners will be asked to provide documentation from three years prior. The focus will be in four areas, including worker classification, fringe benefits, reimbursed expenses and compensation of the business owner.

"The first thing I tell business owners is not to panic if they are facing an audit," says NASE National Tax Advisor, Keith Hall. "As long as you have adequate records and are organized, then it is a relatively simple process. You may even get an additional refund."

Preparing taxes that will sail through the audit process is as easy as following the Three Cs of Tax Preparation:

Careful recordkeeping – Keep good records and notes to support each number on the return. Take the time to do this now, since the information submitted will not likely be reviewed until years later. You do not want to be stuck figuring out what was on line 21 of a past tax return from that long ago.
Check the math – There are many good software packages designed to help you correct easy mistakes and reduce headaches in the long run, such as TurboTax, TaxCut or even the IRS online filing options.
Consider a professional review – Multiple sets of eyes are better than one. It can be worth your time to have a tax professional review the return. Even if he or she does not prepare it from start to finish, a simple review of the work you have done is always helpful. This is especially true if you have a new issue this year, such as your first year of self employment, or hiring a new employee.

The NASE offers numerous tax tools and other tips to help you get through current and future tax season. For help organizing your taxes, visit our Tax Resource Center or ask our TaxTalk CPAs a question.

Micro-Businesses Suffering Under Slowing Economy, Poll Shows

koberlander — Thu, 04 Feb 2010 19:38:03 GMT

For Immediate Release:

Contact:

Kristin Oberlander
(202) 466-2100
koberlander@NASEadmin.org
Twitter: koberlander, NASEtweets

Less Than One-Quarter Of Businesses Planning To Hire Workers

Washington, D.C., February 4, 2010 – While Congress and the Obama Administration are hoping that small businesses will continue to be the engine of job creation and spur recovery, the sluggish economy has had a negative impact on the operations and hiring plans of many small businesses. Over sixty percent of the self-employed and micro-business owners indicate that their business has experienced a significant decrease in sales and/or revenue, and almost fifty percent say they have had to utilize their personal savings or retirement savings to address cash flow issues, according to a study undertaken by the National Association for the Self-Employed (NASE).

More than three-quarters of the micro-business owners surveyed (77 percent) are not planning on hiring workers in 2010, with the majority indicating that they were not hiring because they were unable to pay the salary of or offer benefits to an additional worker. Of the twenty-three percent of respondents planning to hire workers this year, only 31 percent were planning to hire full-time workers.

“The current economic slowdown is causing many challenges for micro-businesses,” commented NASE’s Executive Director, Kristie Arslan. “Self-employed business owners are being faced with difficult choices just to stay afloat in this current economic climate.”

When asked about various proposals put forth by Congress and the Administration to spur jobs, an overwhelming majority of respondents felt that none of the current recommendations would encourage them to hire additional workers.

To see the full results of the survey, visit NASE’s Research & Statistics Web page.

Methodology:

Posted on the NASE Web site and promoted via NASE’s newsletters and social media outlets, the survey was available for members and self-employed business owners to take in January. Almost 200 small business owners opted-in to the online survey and respondents were prohibited from taking it more than once.

2009 Tax Changes For The Self-Employed

koberlander — Wed, 13 Jan 2010 14:25:55 GMT

For Immediate Release:

Contact:

Kristin Oberlander
(202) 466-2100
koberlander@NASEadmin.org
Twitter: koberlander, NASEtweets

NASE Offers Self-Employed Tips For Getting A Jump On The Filing Season

Washington, D.C., January 13, 2010 – Prior to preparing 2009 tax forms, the self-employed and micro-businesses (fewer than 10 employees) should be aware of a few tax law changes, including adjustments 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 National Association for the Self-Employed (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 a business from an office in your home, you may be eligible for additional tax incentives. Depending on when the home was purchased and how long you lived in a prior residence, you may be eligible for a credit of up to $8,000. The credit is similar to an interest-free loan.
Making Work Pay Tax Credit – Many taxpayers will qualify for a making work pay credit of $800, if married and filing jointly, or $400 for other taxpayers. The credit is equivalent to 6.2 percent of earned income up to the maximum amount.
Standard Mileage Rates Adjusted for 2009 – Business owners using their vehicle for company business can deduct 55 cents per mile driven on their 2009 tax return. The rate has also been set for 2010 at 50 cents per mile.
Contribution Limits for IRAs and Other Retirement Plans - Where an IRA contributor who is not covered by a workplace retirement plan is married to someone who is covered, the deduction is phased out if the couple’s income is between $167,000 and $177,000.
Self-Employment Tax Changes – The tax rate for self-employed business owners remains at 15.3 percent, though the income threshold has increased to $106,800. All net earnings from self-employment of at least $400 are subject to the Medicare part of the tax.
AMT Exemption Increased for 2009 – For tax year 2009, the exemption for a married couple filing a joint return is $70,950, $35,475 for a married person filing separately, and $46,700 for singles and heads of household. Children who earn less than $6,700 are not subject to the AMT.

Worried you will be unable to meet your tax obligation? It is important you still file your return even if you are unable to pay the tax you owe. Contact the IRS at 1-800-829-1040 as soon as possible if you foresee tax payment difficulties. The agency will work with you to discuss your options.

In preparation for the filing deadline, self-employed business owners can turn to Hall and other qualified CPAs for help through NASE’s TaxTalk program here. While there, they can submit a tax question and browse the TaxTalk resource library.

Find out more information about these and other tax law changes for the 2009 tax season at www.IRS.gov.

National Association for the Self-Employed and UnitedHealthcare Forge Alliance To Offer Quality, Cost-Effective Personal Health Insurance Choices in 20 States

mnelson — Wed, 13 Jan 2010 14:15:16 GMT

For Immediate Release:

Contact:

National Association for the Self-Employed
800/649-6273

Golden Rule Insurance Company
800/338-9258

INDIANAPOLIS AND WASHINGTON, D.C. (Jan. 13, 2009) – The National Association for the Self-Employed (NASE) and UnitedHealthcare’s Golden Rule Insurance Company have teamed up to offer new personal health insurance choices to entrepreneurs, micro-business owners and other self-employed businesspeople in 20 states and Washington, D.C.

The new comprehensive health plans for individuals and families are offered in Alabama, Arizona, Arkansas, Florida, Illinois, Indiana, Iowa, Michigan, Mississippi, Missouri, Nebraska, Oklahoma, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, Wisconsin and Washington, D.C. North Carolina and West Virginia are expected to be added in March of this year.

Health insurance options include co-pay plans similar to traditional employer-sponsored coverage as well as high deductible health plans that work in tandem with health savings accounts (HSAs). Golden Rule pioneered the HSA concept more than 15 years ago. Today, nearly one-third of Golden Rule’s current customers are covered by HSA plans because of the premium savings, tax advantages and control over health care spending these accounts offer.

NASE members choosing one of the health plans also will have access to UnitedHealthcare’s extensive network of more than 600,000 physicians and health care professionals and 5,000 hospitals. Network discounts can result in additional savings to consumers, even before they meet their annual deductibles.

Established in 1981, the NASE is the largest nonprofit, nonpartisan association in the United States that provides day-to-day support, benefits and consolidated buying power for the self-employed and micro-business owners.

“The NASE has a long history of advocating for lower costs, increased access and parity for the self-employed when it comes to health coverage,” said Robert Hughes, NASE president. “But our members and all micro-business owners need options today that provide both choice and meaningful coverage. The new NASE/Golden Rule plans offer just that.”

According to the U.S. Census, more than 10 million entrepreneurs and micro-business owners with fewer than 10 employees reside in the 20 states and District of Columbia included in today’s announcement.

”We are pleased to work with NASE to make quality health insurance coverage available for the large number of self-employed men and women who are dealing with rising health care costs in a difficult economy,” said Richard A. Collins, Golden Rule CEO and president of UnitedHealthcare’s individual line of business. “NASE members will find a choice of quality health insurance plans as well as a wide range of deductibles, enhancements and optional benefits so coverage can be tailored to meet each family’s unique health care and budget needs.”

For more information on the new health plans, consumers can call Golden Rule at 800-338-9258 and speak to a licensed product advisor for their state, call NASE at 800-649-6273 or visit www.NASE.org.

About the NASE
The National Association for the Self-Employed (NASE) is the nation's leading resource for the self-employed and micro-businesses, bringing a broad range of benefits to help entrepreneurs succeed and to drive the continued growth of this vital segment of the American economy. The NASE is a 501(c) (6) nonprofit organization and provides big-business advantages to hundreds of thousands of micro-businesses across the United States. For more information, visit the association’s Web site at www.NASE.org.

About UnitedHealthcare
UnitedHealthcare (www.unitedhealthcare.com) provides a full spectrum of consumer-oriented health benefits plans and services to individuals, public sector employers and businesses of all sizes, including more than half of the Fortune 100 companies. The company organizes access to quality, affordable health care services on behalf of approximately 25 million individual consumers, contracting directly with more than 600,000 physicians and care professionals and 5,000 hospitals to offer them broad, convenient access to services nationwide. UnitedHealthcare is one the businesses of UnitedHealth Group (NYSE: UNH), a diversified Fortune 50 health and well-being company.