NASE News

The National Association for the Self-Employed (NASE) representing the 22 million owners of American’s small businesses, recently received testimonials from our members as to how their businesses would be impacted if Congress and the Administration fail to address the many issues tied to the fiscal cliff.

To better understand the impact on the self-employed, the NASE tax team estimates that if there is no action on the fiscal cliff, 22 million business owners would see their tax liability increase from between $2,700 to $3,700 in 2013.  This is simply unacceptable. especially if you consider that in a recent small business survey, the self-employed and micro-business community estimated that they will hire 11 million workers over the next two years. 

The comments below have been delivered to the White House and the appropriate members of congress.  

Q: How will you and your business be impacted if Congress and the Administration fail to come up with a solution for the fiscal cliff, leaving you to face increased income taxes next year?

I anticipate that my business will suffer loss of revenue as people have less money to spend on their health and well-being (I am a yoga teacher).    I also anticipate that even if my income stayed the same, the increase in my personal taxes will probably have my family waiting longer than we already do for health care.- Tia Harmony, Chapel Hill, NC

Over the last five years I have seen my revenues decrease 50% due to health care reform decreases in reimbursements. When I started my business they told me to put six months’ salary in the bank to get through dips and valleys but 6 months was gone a long time ago.  I cannot keep this up. I may have to give up my business completely. I did not even make enough to cover the bills and pay taxes last year.- Catherine Lopez, San Antonio, TX

Having a small business survive and grow is dependent on sales and liabilities.  Small businesses are invaluable to this country. Why not encourage it to grow and thrive through by keeping taxes manageable?- Cynthia Carley, Burlingame, CA

First and foremost, it is impossible for us to develop our plan for 2013 and coming years. We are poised to expand our business but are unable to put together the definitive plan as we cannot predict the financial impact come Jan 1, 2013.-  Sheryly Bihler, Houston, TX 

Whether our government addresses small business, big business or individual’s tax it all amounts to the same thing.  The government is spending more than it is receiving from the American People which is causing part of our economic problems.  One of the major things any individual or company looks at when they are coming up short, as this country is, is where is the money going and what should be eliminated or cut back- Emily Starr, Fredericksburg, VA

The state and federal tax structures now in place a substantial percentage of gross income is paid out, leaving little money to work with to develop business, add equipment, hire employees, etc.  Every day I have to evaluate how money will be spent for necessities. As a small business person there is no extra for frills of any kind.  I will have to raise my fees/prices to my clients/customers and this I really don't want to do but it will be necessary.  As with any business the increased taxation means the consumer will have to pay to cover it.- Donna Seebo, Lakewood, WA

2011 was a better year and I made a modest profit (about $10,000), but the loss of health care deduction took me by surprise and so I now owe the IRS money from 2011 for the self employment tax due on my health care expense (which add up to $11,436 per year). The last thing I need is more debt. 2012 has been another bad year and sales revenue is down. I attribute this to uncertainty or consumer confidence. How do I know? What I do know is that my phone is ringing less and I am selling less. Sales drive the success of my business and my ability to make a livable wage.   I have survived this year but I need a robust economy more than anything else.- James McMahon, Brookside, UT

I have paid my share of both self employment taxes and payroll taxes for years with very little tax break from the government until the payroll tax deduction was reduced.  I am a proud member of the middle class and would like the payroll tax to remain. Be responsible and quit playing games about spending cuts.  Be ethical and do not cut valuable deductions that the middle class depend on to make our lives secure.- Michael Bishop, Buda, TX

If the numbers are accurate, and my taxes increase around $3,000 per year, I may simply have to shut down my small business and go back to work as an employee of a larger company.  The estimated taxes I already pay, combined with ever increasing gas prices in the state of California, already prevent me from contributing to my IRA as frequently as I would like.  An increase in taxes will keep me from putting anything into my IRA at all.  My company is just over a year old, and I'd love to see it grow, but under those terms it will be impossible.- Adam Smith, Sherman Oaks, CA

We have been in business for 36 years.  We have struggled over the years, but we now employ 9 people, offer health ins and do as much for our employees as we possibly can.  None of them are well off.  They all struggle from pay day to pay day and it bothers me that they have a hard time making ends meet even though I feel like I pay them a decent salary.  If taxes go up, it will make it hard for me to pay bills and there will be no extras around here.  We try to keep our trucks in good working order and the equipment too, but when money is tight, things get put off and breakdowns occur.  It’s like a revolving door. - Marilyn Remmey, San Antonio, TX

I am a small business myself and my husband we have 2 children. We call it the money shuffle by using tax dollars that we save to pay taxes and health  insurance we are just not keeping up! More taxes will destroy us!  We have already curbed all other expanses.  We still haven’t recovered our loss of retirement money.- Sue Zimmer, Henderson, North Carolina

Increasing my income tax will put me on the edge of going out of business.  Let’s lower income taxes and keep our focus on keeping small business productive- Mark DePonzi, San Jose, CA

The National Association for the Self-Employed cannot stress enough that going over the cliff is simply not an option.  President Obama and Congress must act in these finals days  to appropriately ensure that the self-employed do not see their tax liability increase and that the economy continues to emerge from the recession, ensuring a more secure and bright future for all Americans. 

The National Association for the Self-Employed (NASE) representing the 22 million owners of American’s small businesses, recently received testimonials from our members as to how their businesses would be impacted if Congress and the Administration fail to address the many issues tied to the fiscal cliff.

To better understand the impact on the self-employed, the NASE tax team estimates that if there is no action on the fiscal cliff, 22 million business owners would see their tax liability increase from between $2,700 to $3,700 in 2013.  This is simply unacceptable. especially if you consider that in a recent small business survey, the self-employed and micro-business community estimated that they will hire 11 million workers over the next two years. 

The comments below have been delivered to the White House and the appropriate members of congress.  

Q: How will you and your business be impacted if Congress and the Administration fail to come up with a solution for the fiscal cliff, leaving you to face increased income taxes next year?

I anticipate that my business will suffer loss of revenue as people have less money to spend on their health and well-being (I am a yoga teacher).    I also anticipate that even if my income stayed the same, the increase in my personal taxes will probably have my family waiting longer than we already do for health care.- Tia Harmony, Chapel Hill, NC

Over the last five years I have seen my revenues decrease 50% due to health care reform decreases in reimbursements. When I started my business they told me to put six months’ salary in the bank to get through dips and valleys but 6 months was gone a long time ago.  I cannot keep this up. I may have to give up my business completely. I did not even make enough to cover the bills and pay taxes last year.- Catherine Lopez, San Antonio, TX

Having a small business survive and grow is dependent on sales and liabilities.  Small businesses are invaluable to this country. Why not encourage it to grow and thrive through by keeping taxes manageable?- Cynthia Carley, Burlingame, CA

First and foremost, it is impossible for us to develop our plan for 2013 and coming years. We are poised to expand our business but are unable to put together the definitive plan as we cannot predict the financial impact come Jan 1, 2013.-  Sheryly Bihler, Houston, TX 

Whether our government addresses small business, big business or individual’s tax it all amounts to the same thing.  The government is spending more than it is receiving from the American People which is causing part of our economic problems.  One of the major things any individual or company looks at when they are coming up short, as this country is, is where is the money going and what should be eliminated or cut back- Emily Starr, Fredericksburg, VA

The state and federal tax structures now in place a substantial percentage of gross income is paid out, leaving little money to work with to develop business, add equipment, hire employees, etc.  Every day I have to evaluate how money will be spent for necessities. As a small business person there is no extra for frills of any kind.  I will have to raise my fees/prices to my clients/customers and this I really don't want to do but it will be necessary.  As with any business the increased taxation means the consumer will have to pay to cover it.- Donna Seebo, Lakewood, WA

2011 was a better year and I made a modest profit (about $10,000), but the loss of health care deduction took me by surprise and so I now owe the IRS money from 2011 for the self employment tax due on my health care expense (which add up to $11,436 per year). The last thing I need is more debt. 2012 has been another bad year and sales revenue is down. I attribute this to uncertainty or consumer confidence. How do I know? What I do know is that my phone is ringing less and I am selling less. Sales drive the success of my business and my ability to make a livable wage.   I have survived this year but I need a robust economy more than anything else.- James McMahon, Brookside, UT

I have paid my share of both self employment taxes and payroll taxes for years with very little tax break from the government until the payroll tax deduction was reduced.  I am a proud member of the middle class and would like the payroll tax to remain. Be responsible and quit playing games about spending cuts.  Be ethical and do not cut valuable deductions that the middle class depend on to make our lives secure.- Michael Bishop, Buda, TX

If the numbers are accurate, and my taxes increase around $3,000 per year, I may simply have to shut down my small business and go back to work as an employee of a larger company.  The estimated taxes I already pay, combined with ever increasing gas prices in the state of California, already prevent me from contributing to my IRA as frequently as I would like.  An increase in taxes will keep me from putting anything into my IRA at all.  My company is just over a year old, and I'd love to see it grow, but under those terms it will be impossible.- Adam Smith, Sherman Oaks, CA

We have been in business for 36 years.  We have struggled over the years, but we now employ 9 people, offer health ins and do as much for our employees as we possibly can.  None of them are well off.  They all struggle from pay day to pay day and it bothers me that they have a hard time making ends meet even though I feel like I pay them a decent salary.  If taxes go up, it will make it hard for me to pay bills and there will be no extras around here.  We try to keep our trucks in good working order and the equipment too, but when money is tight, things get put off and breakdowns occur.  It’s like a revolving door. - Marilyn Remmey, San Antonio, TX

I am a small business myself and my husband we have 2 children. We call it the money shuffle by using tax dollars that we save to pay taxes and health  insurance we are just not keeping up! More taxes will destroy us!  We have already curbed all other expanses.  We still haven’t recovered our loss of retirement money.- Sue Zimmer, Henderson, North Carolina

Increasing my income tax will put me on the edge of going out of business.  Let’s lower income taxes and keep our focus on keeping small business productive- Mark DePonzi, San Jose, CA

The National Association for the Self-Employed cannot stress enough that going over the cliff is simply not an option.  President Obama and Congress must act in these finals days  to appropriately ensure that the self-employed do not see their tax liability increase and that the economy continues to emerge from the recession, ensuring a more secure and bright future for all Americans. 

The National Association for the Self-Employed (NASE) representing the 22 million owners of American’s small businesses, recently received testimonials from our members as to how their businesses would be impacted if Congress and the Administration fail to address the many issues tied to the fiscal cliff.

To better understand the impact on the self-employed, the NASE tax team estimates that if there is no action on the fiscal cliff, 22 million business owners would see their tax liability increase from between $2,700 to $3,700 in 2013.  This is simply unacceptable. especially if you consider that in a recent small business survey, the self-employed and micro-business community estimated that they will hire 11 million workers over the next two years. 

The comments below have been delivered to the White House and the appropriate members of congress.  

Q: How will you and your business be impacted if Congress and the Administration fail to come up with a solution for the fiscal cliff, leaving you to face increased income taxes next year?

I anticipate that my business will suffer loss of revenue as people have less money to spend on their health and well-being (I am a yoga teacher).    I also anticipate that even if my income stayed the same, the increase in my personal taxes will probably have my family waiting longer than we already do for health care.- Tia Harmony, Chapel Hill, NC

Over the last five years I have seen my revenues decrease 50% due to health care reform decreases in reimbursements. When I started my business they told me to put six months’ salary in the bank to get through dips and valleys but 6 months was gone a long time ago.  I cannot keep this up. I may have to give up my business completely. I did not even make enough to cover the bills and pay taxes last year.- Catherine Lopez, San Antonio, TX

Having a small business survive and grow is dependent on sales and liabilities.  Small businesses are invaluable to this country. Why not encourage it to grow and thrive through by keeping taxes manageable?- Cynthia Carley, Burlingame, CA

First and foremost, it is impossible for us to develop our plan for 2013 and coming years. We are poised to expand our business but are unable to put together the definitive plan as we cannot predict the financial impact come Jan 1, 2013.-  Sheryly Bihler, Houston, TX 

Whether our government addresses small business, big business or individual’s tax it all amounts to the same thing.  The government is spending more than it is receiving from the American People which is causing part of our economic problems.  One of the major things any individual or company looks at when they are coming up short, as this country is, is where is the money going and what should be eliminated or cut back- Emily Starr, Fredericksburg, VA

The state and federal tax structures now in place a substantial percentage of gross income is paid out, leaving little money to work with to develop business, add equipment, hire employees, etc.  Every day I have to evaluate how money will be spent for necessities. As a small business person there is no extra for frills of any kind.  I will have to raise my fees/prices to my clients/customers and this I really don't want to do but it will be necessary.  As with any business the increased taxation means the consumer will have to pay to cover it.- Donna Seebo, Lakewood, WA

2011 was a better year and I made a modest profit (about $10,000), but the loss of health care deduction took me by surprise and so I now owe the IRS money from 2011 for the self employment tax due on my health care expense (which add up to $11,436 per year). The last thing I need is more debt. 2012 has been another bad year and sales revenue is down. I attribute this to uncertainty or consumer confidence. How do I know? What I do know is that my phone is ringing less and I am selling less. Sales drive the success of my business and my ability to make a livable wage.   I have survived this year but I need a robust economy more than anything else.- James McMahon, Brookside, UT

I have paid my share of both self employment taxes and payroll taxes for years with very little tax break from the government until the payroll tax deduction was reduced.  I am a proud member of the middle class and would like the payroll tax to remain. Be responsible and quit playing games about spending cuts.  Be ethical and do not cut valuable deductions that the middle class depend on to make our lives secure.- Michael Bishop, Buda, TX

If the numbers are accurate, and my taxes increase around $3,000 per year, I may simply have to shut down my small business and go back to work as an employee of a larger company.  The estimated taxes I already pay, combined with ever increasing gas prices in the state of California, already prevent me from contributing to my IRA as frequently as I would like.  An increase in taxes will keep me from putting anything into my IRA at all.  My company is just over a year old, and I'd love to see it grow, but under those terms it will be impossible.- Adam Smith, Sherman Oaks, CA

We have been in business for 36 years.  We have struggled over the years, but we now employ 9 people, offer health ins and do as much for our employees as we possibly can.  None of them are well off.  They all struggle from pay day to pay day and it bothers me that they have a hard time making ends meet even though I feel like I pay them a decent salary.  If taxes go up, it will make it hard for me to pay bills and there will be no extras around here.  We try to keep our trucks in good working order and the equipment too, but when money is tight, things get put off and breakdowns occur.  It’s like a revolving door. - Marilyn Remmey, San Antonio, TX

I am a small business myself and my husband we have 2 children. We call it the money shuffle by using tax dollars that we save to pay taxes and health  insurance we are just not keeping up! More taxes will destroy us!  We have already curbed all other expanses.  We still haven’t recovered our loss of retirement money.- Sue Zimmer, Henderson, North Carolina

Increasing my income tax will put me on the edge of going out of business.  Let’s lower income taxes and keep our focus on keeping small business productive- Mark DePonzi, San Jose, CA

The National Association for the Self-Employed cannot stress enough that going over the cliff is simply not an option.  President Obama and Congress must act in these finals days  to appropriately ensure that the self-employed do not see their tax liability increase and that the economy continues to emerge from the recession, ensuring a more secure and bright future for all Americans.