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  • Small Business Regulation - NASE Speaks Out for the Self-Employed
    Employed Statement on the Patient Protection and Affordable Care Act H R 3590 Dec 22 2009 The NASE s comments on the Senate health reform bill as amended by the Manager s Amendment NASE Asks Legislators to Remember Self Employed in Health Reform Nov 06 2009 NASE comments on the House health care reform bill the Affordable Health Care for America Act H R 3962 NASE Testifies On Extension Of Expiring Tax Incentives Sep 30 2009 NASE National Tax Advisor Keith Hall testified before the House Small Business Committee on the extension of expiring tax incentives He told the committee that the extension of expiring tax incentives such as the Alternative Minimum Tax AMT exemption accelerated depreciation sales tax deductions and first time home owner buyer credits will help small businesses and thus continue the economic recovery National Association for the Self Employed NASE Health Reform Priorities Aug 10 2009 Detailed explanations of the NASE s health care reform priorities and the NASE s perspective on key components of reform NASE and NAR Ask Legislators To Remember Self Employed Jul 20 2009 As Congress continues its important work on health care reform the NASE and the NAR ask legislators that any final health reform measure address the unique problems experienced by America s self employed workforce NASE Other Small Business Groups Write To Congress About Health Reform Jul 16 2009 The NASE NFIB and NSBA urge legislators to remember that our nation s small businesses and the self employed share a problem that plagues all of our members the soaring cost of healthcare NASE Comments at Senate Committee on Small Business and Entrepreneurship Roundtable on Health Reform Jul 09 2009 NASE Executive Director Kristie Arslan participated in a roundtable hosted by the Senate Committee on Small Business and Entrepreneurship regarding

    Original URL path: http://selfemployed.nase.org/nase-in-action/advocacy/page/5 (2016-02-14)
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  • Small Business Regulation - NASE Speaks Out for the Self-Employed
    have a powerful voice representing their interests NASE has a strong track record of advocating for its Members on Capitol Hill The NASE Urges the 110th House to Support the Economic Rescue Package Oct 02 2008 Micro businesses and self employed individuals nationwide are significantly troubled by the current economic crisis facing our country Of most concern to NASE members is the effect this economic crisis will have on their savings their home values and their ability to access credit and loans The National Association for the Self Employed NASE urges the 110th House to act now to stabilize our credit markets and our shaky economy and vote in favor of the Emergency Economic Stabilization Act of 2008 H R 1424 Regulatory Burdens on Small Firms What Rules Need Reforms Jul 30 2008 NASE Member Scott Scribner testified on Capitol Hill regarding the importance of the SBA Office of Advocacy s Regulatory Review and Reform r3 initiative to reduce the confusion and complexity surrounding the home office deduction Key hurdles faced by the self employed in taking this deduction are the strict qualifying requirements the complexity of the form and instructions and the underlying fear that employing this tax benefit will flag them for review or audit by the IRS NASE Sends Letter to House Ways Means Committee Regarding Harmful Provision Affecting Micro Business Jun 19 2008 The House Ways Means Committee held a mark up today on legislation to address the Alternative Minimum Tax AMT which included a provision that would increase both the tax compliance burden and business costs for micro business and the self employed Electronic Payments Tax Reporting Another Tax Burden for Small Businesses Jun 13 2008 Expanding information reporting by requiring credit and debit card issuers to report business owners annual electronic payment transactions to the IRS is just one of the many alarming tax gap recommendations which would increase tax regulation on small business The NASE Submits Comments to the Senate Finance Committee Apr 25 2008 The National Association for the Self Employed NASE understands the current budget situation our country is facing and supports efforts to work towards minimizing the federal deficit However we feel that the Administration s proposals relating to the tax gap would hinder tax compliance while also significantly impairing our nation s entrepreneurs Plain Language in Paperwork The Benefits to Small Business Feb 27 2008 NASE Tax Consultant Keith Hall testified on Capitol Hill regarding the importance of utilizing plain language in federal government forms and publications and how reducing the confusion and complexity surrounding government forms and publications will benefit many small business owners NASE Submits Testimony Addressing the Issue of Affordable Health Coverage Oct 26 2007 Rising health care costs are significantly hurting micro business and impairing their ability to grow compete and succeed The NASE supports the increase in competition among health care carriers in the small group market to encourage lower premium costs NASE Submits Testimony Regarding the Small Business Administrations SBA Micro Loan Program

    Original URL path: http://selfemployed.nase.org/nase-in-action/advocacy/page/6 (2016-02-14)
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  • Fairness in Tax Compliance
    with the federal income tax code with an estimated compliance cost of over 265 1 billion in 2005 Businesses bear the majority of tax compliance costs totaling nearly 148 billion or 56 percent of total compliance costs Despite the time and cost spent on compliance according to IRS data from the National Research Program NRP the nation s tax gap the difference between what taxpayers should pay and what they actually pay on a timely basis is approximately 353 billion The tax gap has three key components which include underreporting of income underpayment of taxes and non filing of returns There have been numerous proposals by the Department of Treasury and in Congress regarding how to effectively increase compliance and minimize the tax gap Significant tax gap proposals include imposing withholding on non employee payments specifically payments made to independent contractors increased information reporting by card companies to the IRS on the credit debit card transactions of businesses information reporting requirements on all payments of 600 or more to corporations It is important to note that in review of current proposals to address the tax gap we see that they solely focus on business to business transactions Business to business transactions are already highly regulated and have substantial reporting requirements A large area of potential non compliance and under reporting stems from business to consumer transactions These dealings are currently not subject to reporting requirements and the creation of those requirements would likely be prohibitive to consumers and politically unappealing to legislators However the NASE feels that it is not possible to have a striking change in the tax gap without addressing business to consumer transactions Additionally the complexity of the IRS tax code is particularly troublesome for the self employed business owner and is a snare for unintentional noncompliance Vague rules and poorly defined regulations understandably result in mistakes We believe efforts to address the tax gap and compliance must focus on overall simplification eliminating issues of inequity within the tax code and enhancing taxpayer education and outreach The majority of small business taxpayers want to comply with existing tax laws thus making tax regulations easier to understand is the most effective and equitable way to improve compliance and to reduce the tax gap The IRS has made positive changes over the past years through enhancement of taxpayer education and outreach efforts which have had positive effects The NASE s concern is with the shifting of resources from taxpayer education and services to enforcement During the Obama Administration the IRS reallocated funding for enforcement services and the IRS has shifted manpower from education to enforcement Accurate tax reporting and compliance is extremely important to small business Those who make a good faith effort yet are inaccurately complying should be assisted through education and tax simplification efforts Those willfully disregarding their tax liability should be held accountable The more assistance offered to taxpayers and the simpler it is to understand and comply with tax laws the more taxpayers will accurately

    Original URL path: http://selfemployed.nase.org/nase-in-action/legislative-priorities/2010/06/29/Fairness_in_Tax_Compliance (2016-02-14)
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  • The Economy and the Self-Employed
    ASBDC Member Directory Search My NASE About Me Account Benefits Optional Benefits Payment Details Expert Questions Email Subscriptions Membership Directory Federal Legislative Issues The NASE Monitors Small Business Laws Affecting You With the NASE as your representative your small business concerns are heard on Capitol Hill The NASE monitors legislation that affects small business and the self employed During the 111th Congress the NASE is urging legislators to pass federal regulations that will help small business needs by focusing on these top priority issues View all NASE news The Economy and the Self Employed Sunday March 07 2010 Top analysts report that the United States economy contines to limp along and no one knows that better than the self employed and micro business Seventy percent of entrepreneurs consider their micro business a career one that presently supplies the main source of income to their households According to data released by the National Association for the Self Employed NASE micro business owners top concerns in the current economic decline are that they will be forced out of business must put off retirement and will face an increased cost of living The continuing credit crisis is causing major cash flow issues for the self employed and they are finding it increasingly difficult to obtain needed financing and credit The majority of business owners indicated that they were experiencing decreases in their lines of credit from banks and financial institutions as well as lower limits on credit cards Home equity loans which are often used by micro business owners for startup or expansion have also proven futile since many houses are worth less than they were just a few years ago The NASE is urging the Obama Administration and Congress to pass an economic stimulus measure that is targeted to the small business

    Original URL path: http://selfemployed.nase.org/nase-in-action/legislative-priorities/2010/03/08/The_Economy_and_the_Self-Employed (2016-02-14)
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  • Access to Affordable Health Coverage
    owe income taxes to receive the full value of the tax credit The credit could be used to purchase coverage through the individual or group market to buy into state purchasing pools or to join an insurance pool in the private sector or one established by a state for high risk patients Several pieces of legislation were introduced in the 110th Congress that would offer tax credits to micro businesses when purchasing health insurance such as the Tax Equity and Affordability Act of 2007 S 397 H R 914 and the Affordable Health Care Expansion Act H R 5784 In the 111th Congress health tax credits have been discussed extensively as part of the health reform debate The NASE will continue to work with the Coalition for Affordable Health Coverage to gain passage of a refundable health tax credit to assist individuals and families in purchasing health coverage Expansion of Health Savings Accounts Health Reimbursement Arrangements are a flexible benefit option that allows small business owners to reimburse employees tax free for out of pocket medical costs including health insurance premiums There are many benefits for a micro business owner to set up an HRA for her employees HRAs are often set up by small businesses in coordination with a high deductible health insurance plan However since many micro business owners are unable to afford employer based health insurance a key benefit of an HRA is that they do not require the business owner to purchase a group health plan Thus business owners unable to afford insurance can offer some financial assistance to their employees HRAs are extremely flexible and easy for a micro business owner to set up and administer This is an important feature for a business owner who is responsible for managing every aspect of their business Plan designs are limitless as long as they are consistent with IRS guidelines A small business owner can write their own plan or obtain assistance from numerous vendors that offer prototypes of written HRA plans Since cost is such a crucial factor for micro business when it comes to health benefits an HRA gives the owner consistency when it comes to benefit costs An HRA allows the business owner to determine the maximum amount of annual reimbursement an employee will receive whether the HRA funds may be rolled over to the next year and if so how much of an employees HRA funds can be rolled over to the next year Furthermore the reimbursements are tax deductible for the business At present self employed persons are not eligible to participate in an HRA an inequity that negatively impacts millions of business owners and employees While there are a myriad of generous self employed business owners out there a key rule of thumb is that an owner is unlikely to set up a benefit for employees that he is unable to participate in as well An important component of HRAs is the non discriminatory rules that apply to them If an

    Original URL path: http://selfemployed.nase.org/nase-in-action/legislative-priorities/2009/03/29/Access_to_Affordable_Health_Coverage (2016-02-14)
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  • Self-Employment Tax on Health Insurance Premiums
    choose to operate Background All employees who receive compensation from employers pay FICA taxes FICA comprises Social Security 6 2 percent and Medicare 1 45 percent taxes Employers are required to withhold from gross compensation 7 65 percent for FICA In addition to the FICA withheld from the employee the employer is required to match the FICA withholding Therefore the employee and employer contribution for FICA is 15 3 percent of compensation subject to applicable annual limits The self employed and others who have earned income also pay into the Social Security Fund at a rate equivalent to employees and employers FICA tax for the self employed is called self employment tax The self employment tax is computed at the same rates 15 3 percent as employee employer FICA and is subject to the same annual limits Prior to 1986 an inequity existed which related to the deduction of the insurance premiums for business owners If the entity operated as a C corporation the premiums were fully deductible by the corporation were not income to the owner and therefore were fully tax deductible for both income tax and FICA tax If the same entity operated exactly the same in every detail except the entity was not a C corporation the health insurance premiums for the sole proprietor were not deductible for either income tax or FICA tax The Self Employed Health Insurance deduction authorized by the Tax Reform Act of 1986 began to address this inequity but the legislation was flawed Since the self employed health insurance deduction was and is not considered an ordinary and necessary business expense for the self employed as it is for the corporate entity the premiums are still subject to the self employment tax Also one hundred percent deductibility of health insurance premiums for the self employed which was phased in during 2003 relates to income tax and not self employment tax The self employed are required to pay two types of taxes on their returns income tax and self employment tax The tax inequity faced by the self employed when purchasing health insurance lies in the fact that Schedule C filers sole proprietors and Schedule E filers partners in partnerships with earned income and 2 owners in S Corporations do not receive a business deduction for health insurance premiums The deduction for their health insurance premiums on page 1 of form 1040 is authorized under the rules for the self employed health insurance deduction and is not included on Schedule C Schedule E or Schedule SE Therefore the premiums are not deducted for purposes of the self employment tax and accordingly the sole proprietor s partners in partnerships and S corporation owners pay self employment tax 15 3 percent on self employment income up to 86 000 on the insurance premiums C corporations on the other hand receive a deduction for health insurance premiums as an ordinary and necessary business expense for all employees including owners Since the premiums paid for health insurance

    Original URL path: http://selfemployed.nase.org/nase-in-action/legislative-priorities/2009/03/29/Self-Employment_Tax_on_Health_Insurance_Premiums (2016-02-14)
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  • Improving Our Health Care System
    to establish them In the 109th Congress the State High Risk Pool Funding Extension Act H R 4519 was signed into law Public Law 109 172 authorized 75 million annually to states with existing qualified high risk pools for fiscal years 2006 to 2010 Additionally the law extends unused grant money for 2006 to be used to assist states in establishing new high risk pools The legislation changes the formula which determines each state s high risk pool funding the new formula is based on three factors 1 the percentage of uninsured individuals in the state 2 the number of participants in each state s risk pool and 3 requires that 40 of the funding be shared equally benefiting small states Many experts are recommending the expansion of risk pools as part of comprehensive health care reform and bills introduced in the 111th Congress contain such provisions The Small Business Empowerment Act of 2009 S 93 would allow employees of small firms or the self employed to join a national small employers and individual risk pool while America s Affordable Health Care Act of 2009 H R 109 provide for the expansion of state high risk health insurance pools for fiscal years 2010 through 2014 Individual vs Employer Based Approach to Health Reform The self employed and micro businesses purchase health insurance in two markets the small group market and the individual market The definition of a small group is determined by each state though most define it as one with 50 or fewer employees Firms in this size range looking to offer employer based health coverage to their employees will look to the small group market for insurance options However of those currently insured the majority of self employed and micro businesses have purchased individual health coverage According to the NASE 2008 Health Care Survey of the more than 46 percent of responding micro businesses offering health insurance only 18 6 percent offer coverage for full time employees That is a significant decline from 2005 when 46 2 percent reported covering full time employees What we see from this data is a definitive shift of micro businesses from the small group market into the individual market The high cost to both the business and the employee in terms of cost sharing are the top reasons for this shift The NASE believes that in order for health reform to be beneficial to the micro business sector of the small business population proposals must tackle the individual market Key issues in the individual market are cost and underwriting based on health status State Mandates Many states have a suitable number of carriers in the individual insurance market to offer the self employed and micro business owners an array of options However cost increasingly becomes an issue for business owners and workers in small businesses purchasing insurance on their own While there may be some competition in states to allow for a range of pricing options state mandates in the individual market

    Original URL path: http://selfemployed.nase.org/nase-in-action/legislative-priorities/2009/03/29/Improving_Our_Health_Care_System (2016-02-14)
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  • Home Office Deduction Simplification
    small business needs by focusing on these top priority issues View all NASE news Home Office Deduction Simplification Saturday March 28 2009 The NASE Position Increasingly entrepreneurs are utilizing their home as a primary place of business Many home based business owners do not make use of the home office deduction due to the complexity of the criteria they must meet The NASE believes that the home office deduction must be simplified and expanded to allow home based businesses to easily utilize the deduction We support the creation of a standard deduction option within the range of 1 200 to 1 750 Home based entrepreneurs qualifying for the deduction could choose between selection the simple standard deduction or itemizing if they feel they would receive a larger tax benefit Background According to research commissioned by the SBA Office of Advocacy home based businesses represent 52 percent of all firms and provide 10 percent of the total revenue of the economy The Congressional Budget Office estimates that nine million of the 17 3 million small businesses in the United States are home based and 55 percent are operated by women To qualify for a home office tax deduction a business owner must use an area of their home regularly and exclusively for business purposes and must meet these conditions Use the space as their principal place of business for a company that generates revenue Under recent changes in the law business owners could meet this qualification even if they only perform administrative and managerial functions there and if they have no other fixed principal place of business Use the space to meet with clients patients or customers Use the area exclusively to store inventory or product samples for their business To claim the home office tax deduction business owners complete and

    Original URL path: http://selfemployed.nase.org/nase-in-action/legislative-priorities/2009/03/29/Home_Office_Deduction_Simplification (2016-02-14)
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