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  • Self-Employed: How To Survive An Audit
    Membership Directory Press Releases The Latest News from the NASE View all NASE news Self Employed How To Survive An Audit Wednesday March 23 2011 For Immediate Release Contact Kristin Oberlander 202 466 2100 koberlander NASEadmin org Twitter NASEtweets Math Errors Are Among The Most Common Mistakes Says NASE Washington D C March 23 2011 The IRS expects 145 million tax returns to be filed for the 2010 tax year and of those one in six will be self employed Schedule C filers A small percentage of those self employed businesses will be subject to an audit each year The NASE knows that many self employed business owners meet their tax obligations fully so the audit process need not be feared The IRS can review tax returns for up to three years so now is the time to make sure all of the necessary paperwork and documentation is stored with the 2010 tax return As long as taxpayers dot their I s and cross their T s when preparing their return then there is no reason to worry about an audit says NASE National Tax Advisor Keith Hall It s possible that you might even get a refund The audit selection process can be a complicated one Here are a few tips to keep in mind Math Errors This is the most common reason for an audit Check and re check the return to make sure all numbers dates and Social Security numbers are included Using tax preparation software can help eliminate these errors Prior Audits Prior audits and matching tax indicators e g you have the same small business and same typical deductions might increase the likelihood of being audited again This is particularly true if last year s audit included an additional tax assessment Statistical Sampling This accounts

    Original URL path: http://selfemployed.nase.org/about-us/media-relations/PressReleases/2011/03/23/Self-Employed_How_To_Survive_An_Audit (2016-02-14)
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  • Small Changes Still Needed To Nation's Health Care Law
    Calculator Mortgage Mortgage Loan Calculator Retirement Savings and Planning 401 k Calculator How long will my retirement savings last Tax 1040 Tax Calculator Payroll Deductions Calculator Self Employment Tax Calculator Helpful Links ASBDC Member Directory Search My NASE About Me Account Benefits Optional Benefits Payment Details Expert Questions Email Subscriptions Membership Directory Press Releases The Latest News from the NASE View all NASE news Small Changes Still Needed To Nation s Health Care Law Tuesday March 22 2011 For Immediate Release Contact Kristin Oberlander 202 466 2100 koberlander NASEadmin org Twitter NASEtweets On One Year Anniversary Of Health Care Reform Law Small Businesses Still Find Themselves Unable To Afford Coverage Washington D C March 22 2011 Kristie Arslan Executive Director of the NASE released the following statement on the one year anniversary of the Affordable Care Act Health care reform has been aggressively promoted under the mantra of affordable for the past year said Arslan Unfortunately affordable is relative and coverage is still out of reach for many of the nation s 23 million self employed business owners On the anniversary of the Affordable Care Act the nation s smallest businesses are counting on Congress to finalize a repeal of the onerous and costly IRS Form 1099 reporting requirement that was contained in the law as well as make the temporary self employed heath insurance tax deduction permanent While these actions won t help every small business owner afford coverage it s a step in the right direction NASE and other small business advocates are fighting to make this year s temporary self employed health insurance tax deduction permanent While every other type of business including corporations and partnerships can write off the cost of health coverage as a business expense our nation s smallest businesses were only granted a

    Original URL path: http://selfemployed.nase.org/about-us/media-relations/PressReleases/2011/03/22/Small_Changes_Still_Needed_To_Nation_s_Health_Care_Law (2016-02-14)
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  • Small Biz RX To Secretary Sebelius' Comments At Senate Hearing
    Oberlander 202 466 2100 koberlander NASEadmin org Twitter NASEtweets Secretary Touts Help For Small Businesses But Fails To Address The Rising Health Care Costs For The Self Employed And Micro Businesses Washington D C March 17 2011 Kristie Arslan Executive Director of the NASE released the following statement in response to U S Health and Human Services Secretary Kathleen Sebelius testimony before the U S Senate Finance Committee s Hearing Health Reform Lessons Learned During the First Year During the hearing Secretary Sebelius touted how the Affordable Care Act is helping our nation s small businesses with their health care costs yet fails to recognize the ballooning costs to our nation s smallest businesses the self employed and micro businesses Secretary Sebelius touts her agency s efforts to notify four million small businesses that they may be eligible for a tax cut to help provide coverage to employees said Arslan This sounds like good news except that there are 23 million self employed and micro business owners who are struggling to afford coverage for themselves and their families right now let alone anyone else they employ Health insurance is a luxury item for these business owners and many are going without so they can focus on higher priority needs like groceries and the mortgage Four million small businesses is a start but until policymakers focus on the majority of the small business demographic the self employed and micro businesses they are not doing enough to get our economy back on track During Secretary Sebelius testimony she said More than 4 million small businesses have been notified that they may be eligible for a tax cut to help them provide coverage for their workers a benefit that s already making a difference with the number of small firms offering health benefits

    Original URL path: http://selfemployed.nase.org/about-us/media-relations/PressReleases/2011/03/17/Small_Biz_RX_To_Secretary_Sebelius_Comments_At_Senate_Hearing (2016-02-14)
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  • NASE Launches New Membership Offering And Redesigned Website For Small Business
    Tough Economy Washington D C March 9 2011 In today s difficult economy the National Association for the Self Employed NASE the nation s leading nonprofit association representing America s smallest businesses is doing its part to support entrepreneurship with the launch of a new annual membership and redesigned website www NASE org offering a more affordable and comprehensive suite of resources and services The NASE is constantly looking for ways we can become a more vibrant partner with America s self employed said NASE President Robert Hughes Our focus has been re aligned to support those examining self employment as a viable career option as well as current business owners who want to continue to grow and create jobs in this country The NASE has utilized the knowledge gained by working for over 30 years with small businesses to transform its membership offering and the NASE org online user experience to focus on three key areas educational resources business benefits and a seat at the table for the self employed in Washington D C The NASE recognizes that most individuals who work for themselves are not legal experts nor do they have an HR department or CPAs on staff As their partner the NASE s new annual membership provides access to key experts and informational resources that can help prospective and existing entrepreneurs start manage and grow their business The redesigned website allows entrepreneurs to find the timely and accurate information they need with ease Educational material is offered in a variety of formats such as articles podcasts and webinars Additionally the new annual membership offers individuals access to an array of business benefits providing a one stop shop for business owners With issues like the economy health care and taxes being taken up by our policymakers on Capitol

    Original URL path: http://selfemployed.nase.org/about-us/media-relations/PressReleases/2011/03/09/NASE_Launches_New_Membership_Offering_And_Redesigned_Website_For_Small_Business (2016-02-14)
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  • Briefing: Self-Employment Health Insurance Tax Deduction
    will my retirement savings last Tax 1040 Tax Calculator Payroll Deductions Calculator Self Employment Tax Calculator Helpful Links ASBDC Member Directory Search My NASE About Me Account Benefits Optional Benefits Payment Details Expert Questions Email Subscriptions Membership Directory Press Releases The Latest News from the NASE View all NASE news Briefing Self Employment Health Insurance Tax Deduction Tuesday March 08 2011 FOR PLANNING PURPOSES March 9 2011 MEDIA ADVISORY WASHINGTON Please join Kristie Arslan Executive Director of the National Association for the Self Employed NASE for a conference call briefing on the temporary self employed health insurance tax deduction available to individuals who pay self employment taxes on their 2010 tax returns Kristie will also discuss recent efforts to make this tax deduction permanent and to redress an historic unfairness in the tax code s treatment of self employed and micro business owners Conference Call Briefing Thursday March 17th 2 00PM Eastern Standard Time Call In Number 1 866 628 8620 Participant Passcode 324784 Please see the below Huffington Post blog piece by Kristie about the temporary tax deduction and the many benefits of making the deduction permanent It is a sad but true fact health insurance is a luxury item for many small business owners purchased when times are good and forsaken when times are lean This is especially true for self employed and micro businesses our nation s smallest businesses Thanks to a minor quirk in the tax code that has a major effect on their bottom lines the self employed are the only business entities that receive no tax benefit for purchasing coverage Every other type of business like corporations and partnerships can write off the cost of health insurance as a business expense Congress delivered a temporary reprieve of this historic oversight in the form of

    Original URL path: http://selfemployed.nase.org/about-us/media-relations/PressReleases/2011/03/08/Briefing_Self-Employment_Health_Insurance_Tax_Deduction (2016-02-14)
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  • NASE Praises House Repeal of 1099 Provision
    Center Business Help Ask the Experts Taxes Business Strategy Business Law Marketing 101 Finance Accounting Health Care Reform Marketing Advertising Real Estate Information Technology NASE Minute Get Help Tax Healthcare Reform Health Marketing 101 Business Management Marketing Advertising Real Estate Calculators Business Breakeven Analysis Calculator Cash Flow Calculator Equipment Buy vs Lease Investment Annual Rate of Return Calculator Mortgage Mortgage Loan Calculator Retirement Savings and Planning 401 k Calculator How long will my retirement savings last Tax 1040 Tax Calculator Payroll Deductions Calculator Self Employment Tax Calculator Helpful Links ASBDC Member Directory Search My NASE About Me Account Benefits Optional Benefits Payment Details Expert Questions Email Subscriptions Membership Directory Press Releases The Latest News from the NASE View all NASE news NASE Praises House Repeal of 1099 Provision Friday March 04 2011 Washington D C March 4 2011 Kristie Arslan Executive Director of the National Association for the Self Employed NASE released the following statement after the House passed a repeal of the onerous 1099 legislation The NASE is pleased to see that the House has supported the permanent removal of this law from the backs of the self employed Not only does the increased reporting discriminate against small enterprises

    Original URL path: http://selfemployed.nase.org/about-us/media-relations/PressReleases/2011/03/04/NASE_Praises_House_Repeal_of_1099_Provision (2016-02-14)
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  • House Introduces Tax Savings Legislation For The Self Employed
    Links ASBDC Member Directory Search My NASE About Me Account Benefits Optional Benefits Payment Details Expert Questions Email Subscriptions Membership Directory Press Releases The Latest News from the NASE View all NASE news House Introduces Tax Savings Legislation For The Self Employed Thursday March 03 2011 For Immediate Release Contact Kristin Oberlander 202 466 2100 koberlander NASEadmin org Twitter koberlander NASEtweets Bill Would Allow Sole Proprietors For The First Time To Deduct Health Insurance Premiums As A Business Expense Washington D C March 3 2011 A longtime priority of the National Association for the Self Employed NASE has been introduced in the House U S Reps Wally Herger R Calif and Ron Kind D Wis have re introduced legislation to address an unfair tax on health insurance premiums for the self employed Under the current tax code sole proprietors are the only business entity that cannot deduct their health insurance premiums for self employment tax payroll tax purposes Last September Congress passed legislation allowing the self employed to fully deduct their health coverage costs from their 2010 taxes This provides an important tax break for the over 23 million self employed Americans that represent 78 percent of all small businesses in the U S This deduction only applies to the 2010 tax year and provides a 15 lower tax liability resulting in a larger refund The Herger Kind legislation would permanently eliminate this inequality in our tax code NASE Executive Director Kristie Arslan added The temporary one year tax deduction included in the Small Business Jobs and Credit Act of 2010 is a big win for the self employed community However the tax deduction needs to be permanent in order to have the most impact For far too long the self employed have not received the same tax treatment as

    Original URL path: http://selfemployed.nase.org/about-us/media-relations/PressReleases/2011/03/03/House_Introduces_Tax_Savings_Legislation_For_The_Self_Employed (2016-02-14)
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  • Tax Time: Deducting The Business Use Of Your Automobile
    Tax Calculator Payroll Deductions Calculator Self Employment Tax Calculator Helpful Links ASBDC Member Directory Search My NASE About Me Account Benefits Optional Benefits Payment Details Expert Questions Email Subscriptions Membership Directory Press Releases The Latest News from the NASE View all NASE news Tax Time Deducting The Business Use Of Your Automobile Wednesday March 02 2011 For Immediate Release Contact Kristin Oberlander 202 466 2100 koberlander NASEadmin org Twitter koberlander NASEtweets Small Biz Owners Often Overlook This Important Deduction Washington D C March 2 2011 Business expenses come with the territory when you are an entrepreneur Some expenses however can be easy to miss come tax time because they do not show up in your business checkbook Use of your car for driving to client meetings the office supply store the post office and more are deductible expenses because you are using your vehicle for business purposes Here are a few tips from the National Association for the Self Employed NASE to remember in regard to deducting expenses for business use of your automobile Standard Mileage Rate 50 cents per business mile driven in 2010 51 cents for 2011 Actual Expense Method calculate total costs of maintaining and driving your car then multiply by the percentage of business miles to total miles driven in that car The main thing the IRS will want to see in supporting this deduction is your mileage log says NASE National Tax Advisor Keith Hall You must keep track of the miles you drive for business whether it s on your computer or handwritten in a notebook The NASE 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

    Original URL path: http://selfemployed.nase.org/about-us/media-relations/PressReleases/2011/03/02/Tax_Time_Deducting_The_Business_Use_Of_Your_Automobile (2016-02-14)
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