Well America has a new President, Barack Obama.
Some of Obama’s plans for small business include:
- Increase the minimum wage and index the rate to inflation so that it goes up every year
- Wants to eliminate all capital gains taxes for new business start-ups
- Give a $500 credit to business owners to offset the self-employment tax
- Proposes making the R&D tax credit system permanent
- Give a 50% refundable credit for employee health insurance premiums that are paid by the employer
- Suggests that entrepreneurship in rural America is critical – his solution? Create a small-business and microenterprise initiative where investors can get a 20 percent tax credit for $50,000 investments in small businesses
- Require all employers to automatically enroll workers in 401(k)s or IRA
- Keep the estate tax rate at 45% and increase the exemption limit to $3.5 million
What do you think of Barack Obama’s victory? Is it going to be a time of true change for America?
Do you think it will have an impact on your business in a positive or negative way?
Change in coming, but I don’t think it will help small business.
WE NEED CHANGE AND THE WHOLE WORLD NEEDS TO BELIEVE IN THE GUIDANCE OF AMERICA AGAIN…..
WE BELIEVE AND YES WE CAN!!!!!
Maybe I’m being naive and don’t know enough details about his plan, but here’s my questions:
“Give a $500 credit to business owners to offset the self-employment tax.”
–Oh really? That much? Doesn’t seem very significant to me.
“Proposes making the R&D tax credit system permanent”
-Exactly how many small businesses are R&D???
“Suggests that entrepreneurship in rural America is critical – his solution? Create a small-business and microenterprise initiative where investors can get a 20 percent tax credit for $50,000 investments in small businesses”
-Ok, that mentions NOTHING about geographic restrictions. How will this help rural America if small businesses in metropolitan areas can take advantage of the same plan?
“Proposes making the R&D tax credit system permanent”
-Exactly how many small businesses are R&D???
Do some research… MANY small businesses take advantage of this tax shelter.
Yes, Obama brings hope and excitement – but he does not understand the economics of small business – nor does he understand (really understand) that small business employs 84% of americans. His tax plan are going to hit small business owners hard, which in turn will force SB’s to cut positions (or not hire any more) – hence greater unemployment. No jobs = no spending. No spending = crappier economy.
he is now coming up with some creative, but backwards ideas on how to reverse some of the hit that he has learned SB’s will fee by provding tax credits after he taxes the crap out of us. Hmmm doesn’t seem efficient to me: give money to the government so they can process it through their expensive beaurocracy to give a few hundred dollars back – what a plan!
CoachLauren: http://www.RevenueBlitz.com
BARACK OBAMA WILL DO AMERICA GOOD!!! IT WAS TIME FOR A CHANGE AND BARACK OBAMA IS THAT CHANGE!