Small Business News
Senate Passes 1099-Repeal Act
Senate Passes 1099-Repeal Act to Relieve Small Business Owners of Burdensome Reporting Mandates The Senate voted Tuesday to repeal a tax-reporting requirement that was criticized for being too burdensome, especially for small business owners. The 87-12 vote sends the measure to President Barack Obama, who is expected to sign it. The bill repeals Section 9006 of last year’s Patient Protection and Affordable Care Act in which business owners, starting next year, were going to be required to use 1099 IRS tax forms to report all transactions greater than $600. It also repeals a requirement passed in the small-business lending bill in which people receiving rental...
Read MoreFour Common Falsehoods About Opening Your Own Business
Starting a new company can be really daunting because of all the dangers associated but it can also be exceptionally satisfying. Some people have a tendency to avoid starting their own venture because they’re scared of not succeeding. Unfortunately, there are numerous myths linked with opening your own business that are not true. When people believe those myths, they wind up missing some great potential prospects. Don’t allow these falsehoods stop you from accomplishing your objectives and your vision of starting your very own company: 1. You Require a Business Degree to Start Your Own Venture. While getting an MBA can unquestionably help aid in your endeavor,...
Read MoreSmall Business Jobs Act
Image via Wikipedia President Obama signed the Small Business Jobs Act and the White House blog has a handy primer of what is included. The bill includes a series of small business proposals that the President put forth earlier this year, and small businesses will start benefiting from the bill on day one. Among the many important provisions in the bill, twelve of the top benefits to small businesses are: Extension of Successful SBA Recovery Loan Provisions —Immediately Supporting Loans to Over 1,400 Small Businesses: With funds provided in the bill, SBA will begin funding new Recovery loans within a few days of the President’s signature, starting with...
Read MoreAre Small Businesses being Targeted Unfairly?
Image via Wikipedia The Credit Card Reform Act which is supposed to protect consumers does not guarantee the same protection to business credit cards. Credit Card companies may still raise interest rates and impose fees at will on business credit cards. The Credit Card Act only applies to consumer credit cards. Business credit card usage has been on the rise in recent years. A report published by the Federal Reserve Bank of the United States in 1998 reported that only one third of small businesses used credit cards. Today that figure stands at a staggering 64%. Card issuers have ramped up advertising efforts towards small businesses. Another study done by...
Read MoreSAN FRANCISCO’S LOCAL ECONOMIC STIMULUS PACKAGE
Image via Wikipedia The Mayor’s office has released a press release relating to a SF local economic stimulus package. While we applaud these efforts – we hope that City Hall adds in a layer of accountability. While it’s nice to say all the nice things you will do for local businesses, it is equally important to track the progress of the programs be implemented. How many businesses are being assisted? What percent of procurement contracts are being awarded to local businesses? This is not an area the City Hall has historically managed well. But as Harvey Milk would say “You Gotta Give ‘Em Hope!” – Here’s hoping City Hall gets it . . . and of...
Read More2009 Small Business California Survey
Image via Wikipedia Please find the link to the Small Business California (SB-Cal) Survey of California small businesses. Last year it received 630 responses from every county in the state. Please take a moment to complete and forward to other small business owners you know. The results will form the SB-Cal agenda for 2009. http://www.zoomerang.com/Survey/?p=WEB228QR44U46V Share...
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