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Washington Watch Quarterly - April 2010

Washington Watch is a weekly newsletter with small business updates from the NASE's Washington, D.C. office. This issue of Washington Watch Quarterly is designed to give you a breeze through of the top stories from the last few months.  

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Micro-Businesses Suffering Under Slowing Economy, Poll Shows

Over sixty percent of micro-business owners indicate that their business has experienced a significant decrease in sales and/or revenue, and almost fifty percent say they have dipped into their personal savings or retirement to cover business costs, according to a study undertaken by the NASE.

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IRS Continues Random Business Audits

Since last year, the Internal Revenue Service (IRS) has been reviewing the tax records of nearly 6,000 randomly chosen businesses in order to help close the tax gap. The focus will be in four areas, including worker classification, fringe benefits, reimbursed expenses and compensation of the business owner.

To view the full article, click here.

Regulatory Changes Saved Small Biz $7 Billion In 2009

Small businesses realized $7 billion in first-year cost savings and $745 million in annually recurring savings as a result of fiscal year (FY) 2009 efforts to help agencies comply with the Regulatory Flexibility Act (RFA).

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Eliminating The Antitrust Exemption For Health Insurers

Amid the battle of vote counts for health reform, the House passed legislation to end the antitrust exemption for insurance companies.

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Senate Considers Small Business, 2nd Jobs Package

The Senate has been busy in past weeks focusing on improving the economy through job creation and, in particular, through the aid of small businesses. The Senate Finance Committee held a hearing on trade and tax issues. Chairman Max Baucus (D-Mont.) argued that provisions like increased expensing for small business owners and additional aid for startups are essential to recovery efforts.

To view the full article, click here.

Classification Of Independent Contractors Major Issue For Micro-Businesses

The Obama Administration plans to implement new regulations on independent contractors that may have a direct impact on small businesses. Almost 50 percent of the self-employed and micro-business owners were opposed to one of the proposed regulations, while opposition to two other proposed regulations was over 70 percent for both, according to a study undertaken by the NASE.

To view the full article, click here.

TripAlly For iPhone Uses Built-In GPS To Create Your Mileage Log

New iPhone application TripAlly tracks, calculates and records miles driven to create the ultimate tax-deduction mileage log. Whether you need to track miles for your small business, charitable contributions, for employee reimbursement, or simply because you want to know, TripAlly can help.

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Nuts & Bolts Of Health Care For Small Biz

Despite apprehension about whether the final health reform law will lower the cost of coverage in the long-term, there are some items of benefit for the small business community.

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IRS Releases 2009 Activity And Data Log

The report describes activities conducted by the IRS from Oct. 1, 2008, to Sept. 30, 2009, and includes information about returns filed, tax collections, enforcement and taxpayer assistance, as well as the IRS budget and workforce.

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Small Business Community Partner Relief Act of 2010

S.3165, the Small Business Community Partner Relief Act of 2010, enables the SBA to temporarily waive the matching non-federal funding requirement that Women’s Business Centers and Microloan intermediaries face to receive funding from the SBA.

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The FCC's Broadband Rollout Plan

The Federal Communications Commission (FCC) will continue with the 2009 stimulus plan to provide broadband across the nation, despite a recent federal court ruling against the agency on net neutrality, the chairman says.

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New Agency Created To Oversee Health Law

The Office of Consumer Information and Insurance Oversight has been created as part of the health reform effort to lead implementation on the law's objectives. Among the branches that the agency includes is an office to implement the exchange program in 2014, as well as a customer service office to answer consumer questions and concerns.

To view the full article, click here.

Washington Watch Online

Visit NASE Advocacy to view archived editions of Washington Watch. While you’re there, read the latest updates from the Washington, D.C. office, write your Congressperson, and find out how you can join the fight for micro-business.

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