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  • NASE Comments on Technical Guidance Issued on Health Reimbursement Arrangements (HRAs)
    on Capitol Hill View all NASE news NASE Comments on Technical Guidance Issued on Health Reimbursement Arrangements HRAs Wednesday March 12 2014 Background Established in 2002 Health Reimbursement Arrangements HRAs or Health Reimbursement Accounts are employer funded tax advantaged employer health benefit plans that reimburse employees for out of pocket medical expenses and individual health insurance premiums Health Reimbursement Accounts are funded solely by the employer and cannot be funded through employee salary deductions The employer sets the parameters for the Health Reimbursement Accounts and any unused funds remain with the employer There are only two requirements to establish an HRA plan 1 the plan must be in writing 2 The plan must be non discriminatory i e each employee receives the same reimbursable rate The Impact of the Affordable Care Act ACA on HRAs On September 13 2013 the Departments of Treasury Health and Human Services and Labor released Technical Release No 2013 03 Application of Market Reform and other Provisions of the Affordable Care Act to HRAs Health FSAs and Certain other Employer Healthcare Arrangements The guidance stipulates that an employer that offers an HRA to two or more employees but does not offer a group health care plan is not compliant with annual limit regulations and the business would be subject to penalty However a single employee business can still offer an HRA plan and would not run afoul of compliance issues under the ACA The NASE does not believe that an HRA should be viewed under any circumstance as a qualified group plan and we do not disagree with the following assessment within the technical guidance HRA 105 Plans by definition will not meet the requirements of an ACA compliant health insurance plan NASE s Call to Action The National Association for the Self Employed NASE believes the technical guidance misinterprets the intent of the ACA as it relates to these types of tools used to provide financial support to employers with less than 50 employees HRAs should be viewed as a tool used by businesses with less than 50 employees to provide some monetary relief for out of pocketed medical expenses incurred by the employee including co pays prescription drug costs and health care deductibles The unintended consequence is that many groups have recommended self employed and small business owners discontinue utilizing such plans until further notice This reduces affordability and therefore access to quality health coverage which was the initial cornerstone of the ACA The NASE calls on Congress to clarify through legislative action the applicability of HRAs by employers with 50 or less employees as a means of providing financial relief to their employees as it relates to out of pocket health care expenses Download NASE Fact Sheet on Technical Guidance on Health Reimbursement Arrangements HRAs 3 Comments 3 Greta 11 Jan I supspoe that sounds and smells just about right 2 Kayleen 03 Feb Too many coimnpmelts too little space thanks 1 Lizzete 10 Feb It s always a relief when someone

    Original URL path: http://selfemployed.nase.org/nase-in-action/advocacy/2014/03/12/nase-comments-on-technical-guidance-issued-on-health-reimbursement-arrangements-%28hras%29 (2016-02-14)
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  • Learn More About the Simplified Home Office Deduction!
    used regularly and exclusively for business resulting in a 1 500 standard deduction Based on 5 per square foot calculation that would cap the allowable space to 300 square feet For well over a decade the National Association for the Self Employed NASE has implored the U S Department of Treasury the Small Business Administration and Congress to address the complex nature of the Home Office Deduction The cumbersome process for calculating the deduction involving both direct and indirect expenses deterred nearly half of home based business from completing the IRS Form 8829 Over the years the NASE has advocated for a standard 1 500 deduction that would allow for the nearly 9 million home based businesses to easily take the Home Office Deduction without error Not surprisingly the IRS simplification offers just that a standard 1 500 deduction based on a square footage calculation NASE Legislative Efforts on Home Office Deduction 2008 Introduction of H R 6214 Home Office Deduction Simplification Act of 2008 in the 110th Congress 2008 Testimony by Scott Scribner to the House Committee on Small Business Subcommittee on Regulations Health Care and Trade on burdensome regulation including the Home Office Deduction 2009 Introduction of H R 3615 The Home Office Deduction Simplification Act in the 111th Congress 2009 Introduction of S 1754 The Home Office Deduction Simplification Act in the 111th Congress 2010 Support of S Amendment 4430 to H R 5297 Small Business Jobs Act of 2010 which added the Home Office Deduction Simplification to H R 5297 2011 Introduction of H R 1827 Home Office Deduction Simplification Act of 2011 in the 112th Congress The NASE also worked with the SBA Office of Advocacy to nominate the Home Office Deduction as part of their Regulatory Review and Reform r3 initiative in 2008 and 2009 The SBA Office of Advocacy consistently selected the home office deduction as one of the top 10 regulations needing reform Additional advocacy efforts included meetings with officials at the U S Department of Treasury IRS and the Small Business Administration over the course of the years to request administrative action to simplify the deduction How the Home Office Deduction Will Change The NASE estimates that nearly half of the 9 million home based businesses do not elect to complete the IRS Form 8829 Standard Deduction for Expenses for Business Use of Your Home due to the complex nature of the instructions Old Form One page long with 43 lines The words see instructions appears 17 times There are four pages of instructions Part III must be completed before Part II can be completed New Form example not IRS document When Does the New Simplified Option to the Home Office Deduction Kick In The new deduction will be eligible starting in the 2013 tax year i e when you file in 2014 and will potentially impact roughly 18 million self employed Schedule C filers The eligibility requirements will remain the same use of your home office space regularly and exclusively

    Original URL path: http://selfemployed.nase.org/nase-in-action/advocacy/2013/01/18/learn-more-about-the-simplified-home-office-deduction! (2016-02-14)
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  • NASE Calls for Full Year of Open Enrollment & Delay of Individual Penalty
    and negative impact on their business and household income In our June 2012 survey Access to Health Coverage and Attitudes in Health Reform A Self Employed Perspective an overwhelming majority 84 9 of the respondents indicated that rising health coverage costs have been detrimental to their families and their business over the past three years Of all of these detrimental impacts faced by small business owners the most acute has been the bottom line impact on both their personal household and business financial budgets In fact 53 9 say the rising cost of health care coverage has had a significantly negative impact on their household income Additionally 37 5 of respondents suggest having to scale back or drop health care coverage all together Business specific impacts are also clearly realized 27 4 say their business is struggling to survive and more than one in ten say they have cancelled or put on hold plans to hire new employees and or expand their business due in part to their fears surrounding the rising cost of health care Leading up to the October 1 2013 launch of the Exchange Marketplace the NASE continued to express concern about the continued consumer confusion over costs and requirements under the individual responsibility aspects of the ACA In September 2013 we gathered concrete data from our members reinforcing our concern about the lack of understanding among a large number of small business owners regarding the impact of the ACA This analysis underscored that our members lacked the most vital piece of information in determining their participation in the Exchange Marketplace monthly premium costs In fact 93 3 of respondents indicated that monthly premium costs would be a determining factor in their decision to participate in the Exchange Marketplace This is key since 69 1 of respondents indicated that as self employed individuals they had not been able to purchase affordable comprehensive health care coverage previously Now four weeks into the launch of the Exchange Marketplace self employed individuals are being hamstrung by a broken computer system that still thwarts them from acquiring the most basic information monthly premium costs Today the National Association for the Self Employed is calling on Congress to act We strongly believe that a prudent and responsible approach to addressing the chronic software and access deficiencies of the Exchange Marketplace both at the State and Federal levels would be to Eliminate the open enrollment deadlines for the 2014 calendar year Delay the individual mandate penalty for one tax filing year The elimination of the open enrollment deadline would allow for self employed Americans to have the necessary time to become well informed in order to make the necessary decisions regarding their 2014 health care needs In addition the extended period will also provide the Department of Health and Human Services HHS adequate time to fully correct any software issues related to the Individual Marketplace and the soon to be launched Small Business Health Option Program SHOP While HHS has offered a minor

    Original URL path: http://selfemployed.nase.org/nase-in-action/advocacy/2013/10/30/nase-calls-for-full-year-of-open-enrollment-delay-of-individual-penalty (2016-02-14)
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  • NASE Releases "ACA in Brief"
    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 NASE Advocacy Efforts Know Your Self Employed Rights Through NASE the self employed and micro businesses have a powerful voice representing their interests NASE has a strong track record of advocating for its Members on Capitol Hill View all NASE news NASE Releases ACA in Brief Monday July 08 2013 Today the National Association for the Self Employed released a comprehensive two page brief on the impact of the Affordable Care Act on the self employed including some remaining questions the self employed have as we approach the October 1 2013 deadline for open enrollment in the Exchange marketplace The comprehensive two pager is a must read for any self employed or micro business owner who is looking to learn more about the Affordable Care Act and how it will impact them their business and their family Download The Affordable Care Act in Brief Comment Your name Click to add Email optional Click to add Comment RadEditor HTML WYSIWYG Editor MS Word like content editing experience thanks to a rich set of formatting tools dropdowns dialogs system modules and built in spell check RadEditor s components toolbar content area modes and modules Toolbar s wrapper Content area wrapper RadEditor hidden textarea RadEditor s bottom area Design Html and Preview modes Statistics module and resize handle It contains RadEditor s Modes views HTML Design and Preview Statistics and Resizer Editor

    Original URL path: http://selfemployed.nase.org/nase-in-action/advocacy/2013/07/09/nase-releases-aca-in-brief- (2016-02-14)
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  • NASE Formally Requests Hearing on Small Business Tax Bill (H.R. 6102)
    30 2012 This afternoon the National Association for the Self Employed formally requested a hearing on H R 6102 America s Small Business Tax Relief Act of 2012 by the House Ways and Means Subcommittee on Tax and Select Revenue H R 6102 includes a permanent deduction for the deduction of health insurance premiums for the self employed The letter is below Ways and Means Subcommittee Hearing Request on H R 6102 July 30 2012 The Honorable Dave Camp Chairman House Committee on Ways and Means Committee 1102 Longworth House Office Building United States House of Representatives Washington DC 20515 The Honorable Pat Tiberi Chairman Subcommittee on Select Revenue Measures House Committee on Ways and Means Committee 1102 Longworth House Office Building United States House of Representatives Washington DC 20515 Dear Chairman Camp and Subcommittee Chairman Tiberi On behalf of the 21 million self employed Americans the National Association for the Self Employed NASE requests a hearing by the Subcommittee on Select Revenue Measures on H R 6102 America s Small Business Tax Relief Act of 2012 introduced by Representatives Jim Gerlach R PA and Ron Kind D WI earlier this month The bill s aim is to help our nation s self employed and small business owners by instituting eight permanent tax deductions that not only provided fiscal clarity for the self employed but also provide them with equity in the tax code The bill clearly signals the intent of this Congress to ensure the viability of America s smallest businesses and will allow these businesses to grow and thrive Of the eight provisions included in H R 6102 the NASE champions the permanent full deduction of health insurance for the self employed In June 2012 the NASE released its national health care survey in which 85 of respondents

    Original URL path: http://selfemployed.nase.org/nase-in-action/advocacy/2012/07/30/NASE_Formally_Requests_Hearing_on_Small_Business_Tax_Bill_H_R_6102 (2016-02-14)
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  • NASE Gives $60,000 In College Scholarships
    60 000 In College Scholarships Friday September 07 2012 For Immediate Release Contact Molly Nelson 202 466 2100 mnelson NASEadmin org NASEtweets Over 1 9 Million Awarded In 24 Years Of Academic Support Washington D C September 7 2012 Just as states across the nation are cutting financial aid due to budget shortfalls the National Association for the Self Employed awarded 60 000 in scholarship money to help 13 families send their children to college Merit based scholarships worth 4 000 were awarded to 12 students The NASE Future Entrepreneur received 12 000 with a promise of 8 000 more for her junior and senior years as long as she maintains a high academic performance The scholarship awards will be used to defray the cost of tuition which has risen to an average of 8 244 per year for four year public colleges and 28 500 per year for private schools according to the College Board For 24 years the NASE has viewed this scholarship program as a way to help our members send their children to college said Kristie L Arslan NASE President The students can study any subject at any accredited college I m proud we can help these students achieve their dreams The NASE Scholarship Program began in 1989 as a way to invest in the future of entrepreneurship Since its start over 1 9 million has been awarded to the dependents of NASE Members The 2012 NASE Future Entrepreneur Abigail Dahl from Warren Ore is the founder Cycle Jacket The company s eponymous product is a light weight waterproof cover for bicycles With her scholarship of 20 000 she will be continuing her studies at Oregon State University in Corvallis as a sophomore this fall The 2012 NASE 4 000 Scholarship recipients are Erik Arndt of

    Original URL path: http://selfemployed.nase.org/about-us/media-relations/PressReleases/2012/09/07/NASE_Gives_60_000_In_College_Scholarships (2016-02-14)
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  • NASE Sends Letter Of Support For Senate Tax Extenders Bill
    Tax Extenders Act of 2012 Read the full letter here S 2050 Support May 21 2012 Dear Majority Leader Reid and Minority Leader McConnell As organizations representing millions of small businesses across the county we urge you to pass S 2050 the Small Business Tax Extenders Act of 2012 sponsored by Sens Olympia Snowe R ME and Mary Landrieu D LA It is critical to extend small business tax provisions that work to spur business investment increase cash flow and reduce tax complexity According to the Small Business Administration SBA 65 percent of net new jobs over the past 17 years were created by small businesses but small businesses have struggled to grow and create jobs in the current environment S 2050 provides incentives for small businesses to invest in and expand their businesses It also represents a comprehensive approach that assists all business types and structures including start ups S corporations and the self employed Finally the bill helps to reduce tax complexity an important concern to small business owners who spend more than 1 500 per employee on tax compliance according to the SBA Since 2003 Congress has steadily increased the allowable Section 179 expensing amount from 25 000 to 500 000 for tax year 2011 This expensing provision encourages businesses to immediately deduct the full value of investments in equipment in the year the investment is made rather than claiming the deduction over a longer depreciation period greatly simplifying tax preparation The bill expands the definition of qualified property to real property and computer software thus encouraging business owners to invest in construction and IT related projects S 2050 provides tax equity to the nation s self employed businesses by expanding the deductibility of health insurance to apply to employment taxes Health care costs remain the top concern for small business and this provision helps the self employed save money on their health care costs thus freeing up their ability to invest in other expenses and investments The bill grants much needed relief to S corporations by increasing their ability to access capital It does so by reducing the built in gains holding period for S corporations When businesses convert from a C corporation to an S corporation they have been required to hold their appreciated assets for up to a decade or else face a punitive level of double taxation S 2050 also helps new start up businesses get off the ground Typically businesses can deduct their expenses in the year the expenses are paid However a start up business is limited in the amount it can deduct and managing such expenses is important to starting a successful business Most new small businesses face significant start up costs including advertising obtaining licenses permits and fees paying rent hiring business and financial consultants and providing employee training S 2050 addresses this issue by allowing up to 10 000 through the end of 2012 Finally the bill contains several other provisions that benefit a variety of small businesses

    Original URL path: http://selfemployed.nase.org/nase-in-action/advocacy/2012/05/21/NASE_Sends_Letter_Of_Support_For_Senate_Tax_Extenders_Bill (2016-02-14)
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  • NASE Asks House Ways and Means To Explore Expired Tax Cuts for the Self-Employed
    self employed to deduct their health insurance as a business expense and the start up deduction for brand new businesses are both particularly important We believe that if the Committee reviewed and in some cases retroactively applied these tax credits to the 2011 and current tax years the self employed community would reap the rewards in a financially meaningful way The NASE would like to go on record for supporting the continued extension of the individual income tax rates originally outlined in the Economic Growth and Tax Relief Reconciliation Act of 2001 and subsequently extended for an additional two years in 2010 through the Tax Relief Unemployment Insurance Reauthorization and Job Creation Act of 2010 Nearly all of the 22 million self employed file as individuals and therefore any increase in the individual tax rate would significantly burden the self employed community and further add tax inequities for the self employed Under the current tax system the self employed are unable to deduct the cost of their health insurance premiums for the purposes of the Self Employment tax They are the only business entity that does not receive the tax option of deducting the full costs of their health insurance The result of this unfair tax burden means that the self employed pay an additional 15 in taxes Already the cost of affordable health coverage is becoming more and more challenging for the self employed however the ability to deduct their health insurance premiums would result in tax savings ranging from approximately 456 to 968 annually In turn the self employed could take that savings and reinvest in their businesses which would result in much needed economic stimulus In the tax year 2010 the self employed community benefitted from a one year deduction that was included in the Small Business Jobs Act Currently H R 880 Equity for Our Nation s Self Employed Act of 2011 introduced by Congressman Wally Herger and cosponsored by a group of nineteen bipartisan lawmakers would make permanent the tax deduction retroactively from its expiration Additionally in the Senate Small Business Committee Chair Senator Mary Landrieu and Ranking Member Senator Olympia Snowe have introduced S 2050 Small Business Tax Extenders Act of 2012 which would allow for a two year deduction From the Committee s perspective while your work is focused on expired 2011 and expiring 2012 tax credits both chambers have introduced and put forth proposals to address the expired health insurance premium deduction As with the health insurance deduction the start up deduction was also a part of the 2010 passed Small Business Jobs Act The 2010 bill increased the start up deduction from 5 000 to 10 000 The deduction served as a motivator for entrepreneurs to become a part of the self employed community which was especially helpful given the well known struggle in accessing capital individuals starting their own businesses routinely face With the expiration of the deduction Rep Hank Johnson and Rep Charlie Dent have taken the lead in

    Original URL path: http://selfemployed.nase.org/nase-in-action/advocacy/2012/04/25/NASE_Asks_House_Ways_and_Means_To_Explore_Expired_Tax_Cuts_for_the_Self-Employed (2016-02-14)
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