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  • Small Business Worker Classification: Independent Contractor Or Employee?
    The question is by hiring additional workers are micro businesses those with 10 or fewer employees actually creating more paperwork for themselves Determining whether a new worker is an employee or an independent contractor can be tough says Keith Hall National Tax Advisor for the National Association for the Self Employed NASE Keep in mind that you can t just choose which one is easiest It really depends on who calls the shots day to day As a firm grows many business owners decide to begin using other workers to help manage the needs of new and existing clients At that point the business owner must determine the tax classification for the new position he or she just created Many small businesses think that this distinction is a matter of choice Not so says the Internal Revenue Service IRS It is extremely important to know the classification of your workers and to make sure you pay them correctly and then report those payments correctly to the IRS at the end of the year The IRS actually uses a multi step checklist to evaluate whether a person is an employee or an independent contractor If you are unsure whether to classify your newest worker as an employee or an independent contractor here is a quick way to sort them out If you control the Who Where When and How the work is done then they are probably an employee This means that you as the business owner must file a Form W2 withhold income and payroll tax and potentially contribute to their retirement plans If the worker controls their own work product and even has other customers besides you then they are most likely independent contractors Payments to independent contractors are reported on IRS Form 1099 and the independent contractors are

    Original URL path: http://selfemployed.nase.org/about-us/media-relations/PressReleases/2011/02/10/Small_Business_Worker_Classification_Independent_Contractor_Or_Employee (2016-02-14)
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  • Self-Employed: Take An SE Tax Deduction For Health Insurance Costs
    2100 koberlander NASEadmin org Twitter koberlander NASEtweets Temporary Tax Provision For 2010 Creates Level Playing Field For Micro Businesses Washington D C February 3 2011 For the 2010 tax year self employed business owners can have one more deduction to claim their health insurance costs The Small Business Jobs and Credit Act passed last fall provides an important tax break for the over 23 million self employed Americans by allowing them to deduct health insurance costs in determining Self Employment Tax These businesses represent 78 percent of all small businesses in the U S according to the National Association for the Self Employed NASE To qualify for this deduction self employed business owners must meet the following three criteria File a Schedule C or Schedule E with net earnings from self employment File a Schedule SE and pay self employment tax Pay health insurance costs during the year This is a major step forward in addressing the single most important factor facing the self employed business owner when it comes to health insurance and that is affordability says Keith Hall the NASE s National Tax Advisor By allowing health insurance costs to be included as a deduction in the calculation for Self Employment tax most small business owners can save as much as 15 on the cost of health coverage right off the top To calculate estimated savings simply add up total 2010 health insurance costs and multiply by 15 percent If however income is above the maximum wage limit subject to self employment tax currently 106 800 then the total percentage savings will be a little different Until now the self employed couldn t get the same tax benefit for health insurance expenses that other companies enjoy Now the self employed can take a one year tax deduction for

    Original URL path: http://selfemployed.nase.org/about-us/media-relations/PressReleases/2011/02/03/Self-Employed_Take_An_SE_Tax_Deduction_For_Health_Insurance_Costs (2016-02-14)
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  • Small Biz Is Critical To Boosting The Economy
    The Economy Wednesday January 26 2011 For Immediate Release Contact Kristin Oberlander 202 466 2100 koberlander NASEadmin org Twitter NASEtweets Washington D C January 26 2011 Kristie Arslan Executive Director of the National Association for the Self Employed NASE released the following statement in reaction to President Barack Obama s State of the Union Address Enhancing competitiveness and expanding employment are solid economic goals But policies to get us there have to take into account the demographics of our nation s businesses The vast majority of American businesses are very small and have little in common with the small club of corporate giants Getting our economy back on track has to focus on helping small businesses stay afloat and thrive One way we can help small businesses such as the self employed and micro businesses become more competitive and put them in a hiring mode is to improve regulatory efficiency a goal recently promoted by the President in the pages of the Wall Street Journal And there are plenty of opportunities for that rhetorical rubber to meet the road For example a largely unnoticed provision in the health care reform bill requiring small business owners to submit IRS Form 1099 for every purchase of goods and services over 600 will increase the time and money spent on tax preparation for three out of four business owners This is a burdensome regulation that prevents small businesses from thriving President Obama and Congressional leaders worked in a common sense way for our small business community by supporting critical tax relief measures in the Small Business Jobs Act and extending the Bush era tax cuts NASE encourages our policymakers to continue by giving the small business community the tools to put our economy back on the fast track President Obama s reference to

    Original URL path: http://selfemployed.nase.org/about-us/media-relations/PressReleases/2011/01/26/Small_Biz_Is_Critical_To_Boosting_The_Economy (2016-02-14)
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  • 2010 Micro-Business Year In Review
    as they navigated the stormy waters of the nation s economy with advice on survival and even success Created to provide a boost to deserving micro businesses the NASE s Business Development Grant Program continued to flourish and even presented a 20 000 Achievement Award to one member in recognition of his excellent small business practices and his contribution to local youth health and community development The NASE s grant program has awarded over 500 000 in grants since 2006 The NASE also celebrated over two decades of helping members send their dependents to college through the NASE Scholarship Program In 2010 the program helped 20 families send their students to college in addition to the recipient of the substantial NASE Future Entrepreneur Scholarship Since the program was started in 1989 as a way to invest in the future of entrepreneurship over 1 9 million has been awarded to the dependents of NASE Members The NASE is happy to help assist micro business owners in other ways as well The NASE has been working with the Obama Administration to make sure that the needs of small business owners are not forgotten To that end a group of NASE Members attended a live taping of a town hall style meeting with President Barack Obama on MSNBC during the summer The NASE launched a public awareness campaign aimed at policymakers to combat the stereotype that the nation s smallest businesses do not make serious contributions to the economy In fact the self employed represent three quarters of the nation s small businesses and contribute over 1 trillion to the economy The Association remains in contact with members of Congress to offer information on helping micro business In 2010 the NASE spoke up on a number of issues including worker classification definitions harmful increased reporting requirements passed under the health care law support for the creation of a standard home office deduction and support for a small business bill with tax incentives and increased funding for small business programs This year amid the conversations by lawmakers on how to craft health care policy and create jobs the micro business community received a nod from the White House and Congress when the Small Business Jobs and Credit Act H R 5297 became law in September The law included a monumentally important deduction for sole proprietors on their health care costs for 2010 In past sole proprietorships were the only business entity that were unable to deduct their health insurance premiums as a business expense Though the NASE would have preferred that the deduction become permanent the law s one year deduction is an important step in the fight The law also included an increase in the deduction for new businesses from 5 000 to 10 000 The NASE stayed visible in efforts to address a harmful provision set to affect the self employed in 2012 Passed under the health care law was an increased reporting requirement for businesses involving the IRS Form 1099 The

    Original URL path: http://selfemployed.nase.org/about-us/media-relations/PressReleases/2010/12/16/2010_Micro-Business_Year_In_Review (2016-02-14)
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  • NASE Applauds President And Congressional Leaders For Bush-Era Tax Compromise
    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 Applauds President And Congressional Leaders For Bush Era Tax Compromise Tuesday December 07 2010 For Immediate Release Contact Kristin Oberlander 202 466 2100 koberlander NASEadmin org Twitter NASEtweets Washington D C December 7 2010 Kristie Arslan Executive Director of the National Association for the Self Employed NASE released the following statement on the compromise between President Obama and Congressional leaders on extending the Bush era tax cuts leading the way for economic relief for the small business community and the middle class The compromise between President Bush and Congressional leaders on extending the Bush era tax cuts is a win for the small business community said Arslan During this time of economic uncertainty small business owners need this economic relief for their very survival Over 23 million individual small business owners will now be able to keep their businesses on a path to recovery without the threat of closing their doors due to a big tax bill in April NASE applauds President Obama and Congressional leaders for working in a bipartisan way for America s middle class About the NASE The National Association for the Self Employed NASE is the nation s leading resource for the self employed and

    Original URL path: http://selfemployed.nase.org/about-us/media-relations/PressReleases/2010/12/07/NASE_Applauds_President_And_Congressional_Leaders_For_Bush-Era_Tax_Compromise (2016-02-14)
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  • NASE Calls On Congress To Extend Bush Tax Cuts For Small Business Owners
    For Immediate Release Contact Kristin Oberlander 202 466 2100 koberlander NASEadmin org Twitter NASEtweets Washington D C December 2 2010 Kristie Arslan Executive Director of the National Association for the Self Employed NASE released the following statement after the U S House of Representatives passed an extension of the Bush era tax cuts for the middle class This is the wrong time to raise taxes for small businesses Over 23 million individual small business owners across the country are counting on Congress to stand up for the American middle class by extending the Bush tax cuts said Arslan The time for political bickering is over now is the time to provide relief to millions of American middle class families who desperately need it during this economic downturn Self employed business owners contribute nearly a trillion dollars to our economy and they cannot afford a tax hike which for the average small business will amount to more than 2 000 a year This may be small change to a large corporation but to a small business owner it could purchase health insurance pay for equipment or advertise their business We support President Obama s commitment to middle class small business owners and call on Congress to work in a bipartisan way to extend these vital tax cuts Quotes from President Obama on November 3 2010 With respect to the expiring Bush era tax cut issue my goal is to make sure that we don t have a huge spike in taxes for middle class families Not only would that be a terrible burden on families who are already going through tough times it would be bad for our economy It is very important that we re not taking a whole bunch of money out of the system from people who are

    Original URL path: http://selfemployed.nase.org/about-us/media-relations/PressReleases/2010/12/02/NASE_Calls_On_Congress_To_Extend_Bush_Tax_Cuts_For_Small_Business_Owners (2016-02-14)
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  • NASE Applauds Supportive Comments By President On Small Biz
    of the National Association for the Self Employed NASE released the following statement after the President delivered supportive comments on small business priorities at a press conference earlier today NASE is encouraged that President Obama is focused on two priority policy issues that need to be addressed to help the nation s 23 million self employed and micro business owners drive economic growth The IRS Form 1099 provisions passed under the health care law would increase paperwork for a self employed business owner by more than a thousand percent a burden that could affect a business very survival He s right to suggest that it s counterproductive He also pledged to extend tax cuts to help middle class families many of whom are supported by a self employed business owner NASE looks forward to working with the Administration and Congress to get these priorities in place for our small businesses Relevant quotes from the President s remarks I know one of the things that s come up is that the 1099 provision in the health care bill appears to be too burdensome for small businesses It just involves too much paperwork too much filing It s probably counterproductive It was designed to make sure that revenue was raised to help pay for some of the other provisions but if it ends up just being so much trouble that small businesses find it difficult to manage that s something that we should take a look at With respect to the expiring Bush era tax cut issue my goal is to make sure that we don t have a huge spike in taxes for middle class families Not only would that be a terrible burden on families who are already going through tough times it would be bad for our economy It

    Original URL path: http://selfemployed.nase.org/about-us/media-relations/PressReleases/2010/11/03/NASE_Applauds_Supportive_Comments_By_President_On_Small_Biz (2016-02-14)
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  • Small Business Jobs & Credit Act Signed Into Law
    Kristin Oberlander 202 466 2100 koberlander NASEadmin org Twitter NASEtweets NASE Participates In Signing Ceremony With President Obama Washington D C September 28 2010 Yesterday President Barack Obama signed into law legislation that will allow the self employed to deduct their health insurance costs as a business expense for payroll tax purposes Though only applicable to 2010 tax returns the passage of this proponent is a key foot in the door for future battles on health costs and the self employed according to the National Association for the Self Employed NASE Before signing the bill President Barack Obama offered a few remarks Now this is important because small businesses produce most of the new jobs in this country They are the anchors of our Main Streets They are part of the promise of America the idea that if you ve got a dream and you re willing to work hard you can succeed That s what leads a worker to leave a job to become her own boss That s what propels a basement inventor to sell a new product or an amateur chef to open a restaurant It s this promise that has drawn millions to our shores and made our economy the envy of the world The NASE lauds the Administration and Congress for passing this small business legislation into law remarked NASE Executive Director Kristie Arslan It is imperative that lawmakers continue to focus on small business policy that helps the majority of the business community the self employed The one year tax deduction for sole proprietors on health care costs for payroll tax purposes on their 2010 tax returns is expected to save self employed business owners approximately 456 to 968 in taxes next year This is a significant bottom line cost savings in this difficult

    Original URL path: http://selfemployed.nase.org/about-us/media-relations/PressReleases/2010/09/28/Small_Business_Jobs_Credit_Act_Signed_Into_Law (2016-02-14)
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