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  • Washington Watch - July 16, 2014
    for the Highway Trust Fund through pension smoothing and an increase to customs user fees In the Senate Chairman Wyden and Ranking Member Hatch of the Finance Committee have negotiated terms of their own legislative patch to fund the highway trust fund Preserving America s Transit and Highway PATH Act of 2014 The PATH Act would like the House bill raise funds through pension smoothing and an increase to the customs user fees but would also include other revenue raising changes to the tax code The PATH Act was reported out of the Senate Finance Committee on Friday July 11 but passage from the full Senate is unlikely It is anticipated that the Senate will take up the House bill and pass it as a stop gap measure allowing for the Senate language to garner more support President Obama has signaled that while he would prefer a long term solution he will sign the House version into law Economy Shrinks 2 9 The gross domestic product GDP contracted by 2 9 the largest since 2011 first quarter Economist initially thought the drop in GDP was a modest 1 but recent date analyzed by the US Department of Commerce and Labor revised the number Several factors are being blamed for the contraction weather low inventory of goods specifically new homes and the affordable care act While the economic news is cause for broader concern it is especially troubling news for America s smallest businesses who will feel the contraction much more deeply However economists are optimistic that several other economic indicators are improving specifically the decline in unemployment claims WSJ U S Economy Shrinks by Most in Five Years Bloomberg U S Economy Shrinks for First Time Since 2011 Pent Demand Suggests Temporary Setback NASE to Participate in HHS Town Hall

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  • Washington Watch - July, 11 2014
    Working Home Based Parents Prior to the July 4th recess Senate Minority Leader Mitch McConnell R KY introduced S 2488 The Working Parents Home Office Act allows working parents to fully utilize the home office deduction even if there is incidental use of the home office for childcare provided that the business owner is using the space for their business Previously under IRS guidelines any incidental use of the home office would negate the deduction The NASE has worked on behalf of its members the small business community and the self employed to advocate for a simpler home office filing option This year was the first year small business owners could take a standardized streamlined home office deduction D C Sued Over 1 Health Insurance Tax As anticipated by the NASE and several other small business groups the American Council for Life Insurers filed a complaint against the District of Columbia citing that the 1 tax levied on all health insurance products sold within D C is unconstitutional In the June 3rd letter sent by NASE American Independent Business Coalition Southern Consumers Alliance and Coalition for Affordable Health Care we alluded to the fact that the District could face a lengthy and costly lawsuit given that we believed the decision to tax all health care products not just those offered in the Exchange was illegal it also should be brought to the attention of the D C City Council that the decision to tax all health insurance carriers and not just those operating within the D C exchange could be in violation of the law and could result in a costly lawsuit that the City will have to defend Passing the Health Care Buck In the NASE s most recent Huffington Post blog we discuss the recent decision by the

    Original URL path: http://selfemployed.nase.org/about-us/nase-publications/washington-watch/archive/2014/07/11/washington-watch---july-11-2014 (2016-02-14)
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  • Washington Watch - June 11, 2014
    micro business owners interested in exploring options within the Small Business Health Options Program SHOP in 18 states will have to wait until 2016 to see the program realized The Centers for Medicare and Medicaid Services delayed the implementation Alabama Alaska Arizona Delaware Illinois Kansas Louisiana Maine Michigan Montana New Hampshire New Jersey North Carolina Oklahoma Pennsylvania South Carolina South Dakota and West Virginia Each state was required to petition CMS for the delay and many cited the concern that the employee choice option guaranteed under SHOP would dramatically increase premium costs for plan participants Administrator Contreras Sweet s Provides Vision In two separate speeches the Administrator of the Small Business Administration communicated her vision for the small business community Administrator Contreras Sweet stated First we will modernize and implement smart systems so the SBA keeps pace with technological advances that are changing how we do banking and conduct business To encourage our lending partners to provide more capital to Main Street we will automate our credit analysis using predictive systems Second we will create a more inclusive SBA by tailoring programs that embrace our nation s dynamic demographics Third we will serve as a market maker for small companies by opening new business channels within the federal government corporate supply chains and international commerce We will be modern We will be inclusive And we will make new markets This is how we ll move the dial for entrepreneurs from all walks of American life You can read the full text of her speech here Is Your State Small Business Friendly Thumback com a consumer service website has asked small businesses owners what they think of their state s friendliness towards small business Thumbtack which partnered with the Ewing Marion Kauffman Foundation for the report computed an average score for

    Original URL path: http://selfemployed.nase.org/about-us/nase-publications/washington-watch/archive/2014/06/11/washington-watch---june-11-2014 (2016-02-14)
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  • Washington Watch - May 23, 2014
    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 About Us Washington Watch Be the first to know about legislative action that affects you and your business View all NASE news Washington Watch May 23 2014 Friday May 23 2014 D C Implements 1 Tax on all Health Care Carriers Earlier this month the D C City Council s unanimous supported PR20 0744 Health Benefit Exchange Authority Financial Sustainability Emergency Declaration Resolution of 2014 enacting a 1 tax on all health insurance carriers with gross receipts of 50 000 or more within the District of Columbia Since the passage of the Affordable Care Act ACA the NASE has proactively engaged in its implementation in order to ensure our members and the millions of self employed and micro businesses nationwide have access to comprehensive and affordable health care coverage However we believe the decision by the D C City Council is counter productive and ultimately hurts those individuals who would benefit the most from being able to access comprehensive and affordable health care coverage The NASE supports the pro active nature of the Council to be good stewards of the District s fiscal health while balancing the commitment to the D C Health Benefit Exchange Authority however the NASE will hopes that the D C City Council will engage in a thoughtful process to address our concerns and ensure that no business owner is unfairly taxed out of operating within the District of Columbia Memorial Day Recess Both the Senate and House are adjourned through Wednesday May 28th Washington Watch Online Visit NASE Advocacy to view archived editions of Washington Watch While you re there read the latest

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  • Washington Watch - May 7, 2014
    encourage and support the millions of small businesses that contribute to the U S economy Starting in San Francisco the Small Business Administration SBA will host four regional events throughout the week focused on highlighting small business success stories and providing networking and programming to support those individuals interested in starting a new small business The events will travel to Kansas City on May 13th Boston on May 15th and culminate in Washington D C on May 15th and 16th The National Association for the Self Employed is pleased to serve as a sponsor of the week s activities and looks forward to promoting the self employed who represent nearly 76 of all small businesses in the U S To participate virtually in the week s events visit National Small Business Week 2014 Housing Reform Bill Could Move Through Senate This week the U S Senate is expected to address long standing legislation that would significantly reform Freddie Mac and Fannie Mae Introduced by the Chairman and Ranking Member of the Senate Committee on Banking Housing and Urban Development the bill would winded down the federally backed mortgage giants Freddie and Fannie and return control to shareholders via the private sector The bill would not end the practice of the federal government backing 30 yr fixed mortgages offered by either entity but would rather put in place protections for the American taxpayer should the mortgage industry collapse as it did in 2008 by requiring 10 of all mortgages to be backed by private dollars There is wide concern that the Johnson Crapo bill could cause interest rates to rise due to additional fees and requirements placed on each new mortgage however analysts are non committal on how much rates and associated costs could rise The chances of a bill passing

    Original URL path: http://selfemployed.nase.org/about-us/nase-publications/washington-watch/archive/2014/05/07/washington-watch---may-7-2014 (2016-02-14)
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  • Washington Watch - April 9, 2014
    Sworn In as SBA Administrator On Monday April 7 2014 Vice President Biden formally sworn in Maria Contreras Sweet following her confirmation by the United States Senate on March 27 2014 Of immediate importance is working to restore nearly 50 million of funding that House Republicans are recommending to be cut from the Small Business Administration s FY2015 budget The NASE along with a diverse bi partisan group of small business associations and advocacy groups strongly support the nomination of Contreras Sweet read our letter of support and learn more about the new SBA Administrator NASE Pushes for Review of Health Care Reform Change to Health Reimbursement Arrangements 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 Read our Fact Sheet and learn more about how this change could impact you and your business House Small Business Committee Holds Hearing on Tax Hurdles Faced by Small Business On Wednesday April 9 2014 at 1 00 P

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  • Washington Watch - March 6, 2014
    About Me Account Benefits Optional Benefits Payment Details Expert Questions Email Subscriptions Membership Directory About Us Washington Watch Be the first to know about legislative action that affects you and your business View all NASE news Washington Watch March 6 2014 Thursday March 06 2014 NASE Member Charlie Arnold Testifies to House Small Business Community On Thursday March 6 2014 NASE Member Charlie Arnold testified in front the Committee on Small Business Subcommittee hearing on Contracting and Workforce Obamacare and the Self Employed What About Us During his testimony Arnold offered the perspective of our nation s smallest businesses the self employed and micro businesses His testimony centered around the ongoing confusion small business owners across the country continue to have in regards to healthcare enrollment as well as the difficulties in interpreting new rules issued governing Health Reimbursement Accounts HRAs and the disparity between big business and the small business community You can read Arnold s full testimony here Watch a recording of the hearing here House Passes One Year Individual Mandate Delay On Wednesday March 5 2014 the House passed H R 4118 The Simple Fairness Act which would give the American public and small business owners some much needed relief by delaying the individual mandate for one year NASE has been active in calling for both a one year delay in the individual mandate penalty and extending open enrollment until the end of 2014 Senate Small Business Committee Advances Contreras Sweet Nomination On Wednesday March 5 2014 the U S Senate Small Business and Entrepreneurship Committee unanimously approved the nomination of Maria Contreras Sweet as the next Administrator of the Small Business Administration SBA The NASE strongly supports the nomination of Contreras Sweet to lead the SBA and you can read our Press Release here Washington Watch

    Original URL path: http://selfemployed.nase.org/about-us/nase-publications/washington-watch/archive/2014/03/06/washington-watch---march-6-2014 (2016-02-14)
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  • Washington Watch - February 12, 2014
    and medium size enterprises Before she founded ProAmérica Bank she opened an international management consulting firm called the Contreras Sweet Company which soon landed Disney Coca Cola and the Getty Museum She was also president and co founder of Fortius Holdings LLC The success of ProAmérica Bank and her work with other business ventures demonstrate Ms Contreras Sweet s expertise in addressing the unique needs of the business community The NASE supports the nomination of Maria Contreras Sweet to serve as SBA Administrator NASE s statement of the nomination of Maria Contreras Sweet ACA Employer Mandate Delay for Businesses With 100 or less Employees On Monday February 10 2014 the U S Department of Treasury announced that it would delay the employer mandate provision of the Affordable Care Act for businesses with 100 or less employees in all a total of a two year delay for employers of this size previously the Administration delayed the employer mandate for all businesses until 2015 The NASE renews its call to delay the individual mandate penalty for one calendar year extend open enrollment allowing America s 23 million Smallest Businesses to have the flexibility to identify the best plan for them their business and family without the threat of financial punishment NASE Renews Call for Delay of Individual Mandate Penalty NASE Provides Valuable Feedback on Crowdfunding Proposal On February 3 2014 the National Association for the Self Employed submitted a comment letter to the Securities and Exchanges Commission in support of recommendations made by the Association for Enterprise Opportunity to help finalize rules as it relates to Crowdfunding The NASE believes that crowdfunding is an exciting avenue for both new entrepreneurs and established small businesses to raise needed capital to launch or grow a small business At present nearly 48 percent of the

    Original URL path: http://selfemployed.nase.org/about-us/nase-publications/washington-watch/archive/2014/02/12/washington-watch---february-12-2014 (2016-02-14)
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