Self Made: NASE's Blog

Monday, December 05, 2011
Q: We have a significant quantity of clothing left in our warehouse. In prior years we have scrambled to "get rid of it" at closeout prices because our CPA says this has a tax advantage. HOWEVER at what point can we determine we are actually LOSING money by doing this? If we hold on to inventory and sell it at full price next year, perhaps that's a greater advantage? Is there a formula to help us ascertain what to do? A: I hate to take exception with your accountant, but selling inventory at less than you otherwise could, simply for ...
Friday, December 02, 2011
Posted by Kristin Oberlander - Here are some interesting tidbits from the small business blogs this week: Trademark Wars Heat Up. Be Ready (CNN Money) Is It Time To Collect Sales Tax Online? (Inc.) Why We're Afraid To Talk Pricing (Small Business Trends) 7 Blogs And Newsletters That Can Help You Sell A Business (You're The Boss) Where Do Entrepreneurs Work Hardest? (On Small Business) Small Businesses Add Jobs In November; Pay, Hours Down (In Charge)
Wednesday, November 30, 2011
Lawmakers are sifting through the remnants of the super committee talks, looking for tax plans to keep after the collapse. The House Ways & Means and Senate Finance committees will work over the next several months to pull together a reform package. House Ways and Means Chairman Dave Camp, R-Mich., and Senate Finance Chairman Max Baucus, D-Mont, both served on the super committee. Read more about the current tax reform conversation here.
Thursday, November 17, 2011
Posted by Kristie Arslan - As we approach the Thanksgiving holiday season, the Joint Select Committee on Deficit Reduction approaches a looming deadline: by November 23rd, the super committee must provide recommendations to Congress on how to reduce the federal debt by $1.5 trillion. In an open letter, the 22-million self-employed and micro-businesses asked to be kept in mind as the super committee determines which cuts will be made to reduce the debt. Small business owners and the self-employed appreciate the importance of the task at hand because they must keep their financial books balanced in order to maintain a successful ...
Wednesday, November 16, 2011
Posted by Kristin Oberlander - The National Association for the Self-Employed (NASE) today announced its participation in the second annual Small Business Saturday on November 26, 2011. Small Business Saturday is a day for dedicating a portion of holiday shopping to local, independently-owned small businesses. The NASE recognizes the importance of small businesses and the self-employed, the jobs they create and the culture they instill in local communities. There are nearly 22 million self-employed businesses in the nation. Small businesses also have generated 64 percent of net new jobs over the past 15 years and employ just over half of all ...
Thursday, November 10, 2011
Posted by Molly Nelson - It may surprise you to know that if you use tools like Gmail, Facebook or Twitter for your business, you're already in the Cloud. The basic concept of the Cloud (and cloud computing) is that users can store and access information and software on third-party servers instead of the actual computer (or mobile device) in front of them. Cloud providers like Amazon Web Services allow users to "rent" the programs and computing power they need at a given time, allowing companies to - for example - run complex programs, scenarios or large datasets on multiple ...
Monday, November 07, 2011
Q: I have following questions regarding a family employee (child who is under 15 yrs): What's the best method of payment, direct deposit payroll or checks or cash? Can we claim him as DEPENDENT for tax purposes, if the annual income paid is under the limit $4,750 applicable for year 2011? For our LLC we have been filing tax returns as a sole-proprietor, along with individual tax returns. Do we have to file additional form for child income? A: The new employee, your child, should be treated basically the same as any other non-related employee even though there are certainly some differences ...
Thursday, November 03, 2011
Posted by Kristie Arslan - Let's face it: corporations are treated very differently than self-employed businesses in the U.S., especially when it comes to taxes. A corporation is able to write off the amount it pays for its employees' health insurance, lowering its taxable income. Self-employed business owners, on the other hand, are the only type of business that must pay for health insurance with post-tax dollars. This makes health insurance too expensive for many of the self-employed -- money that can be better spent on advertising, phone lines or even hiring additional workers. Making health insurance more expensive is just ...
Monday, October 31, 2011
Thursday, October 27, 2011
Posted by Mike Beene - The Federal Housing Finance Agency (FHFA) announced Monday steps to ease the requirements for many Americans to refinance their homes. The program being revised is called the Home Affordable Refinance Program (HARP). To be eligible your existing mortgage must have been sold to Fannie Mae or Freddie Mac on or before May 31, 2009 and the borrower must be current on mortgage payments with no late payments in the last six months and no more than one payment in the last twelve months. In addition, the current loan to value ratio must be greater than ...

 

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Self Made

A blog on the self-employed and micro-business

Meet the NASE Staff Bloggers


Katie Vlietstra - As Vice President for Government Relations and Public Affairs, I work to explain how actions on Capitol Hill can impact the self-employed. I love D.C. and have made my home in Capitol Hill, where I live with my husband and black Labrador, Coltrane. We love playing volleyball and softball on the National Mall. 

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