Archive for the 'Government' Category

From CNN Money
1. Earning Too Much! Over $100,000 in earnings increases audit risk.
2. Giving too much to charity. (We wouldn’t want someone not to depend on the government now!)
3. Not paying Alternative Minimum Tax
4. Taking too many tax credits, especially Earned Income Credit
5. Careless errors.

From Ray Hennessey and CBS
First, be sure to limit home-office deductions. You can only deduct home-office expenses if your company doesn’t provide you with a work space. “We like to work from home, we like to telecommute,” says Hennessey, “but that doesn’t mean that you can deduct money that you spend to do that.”
Also, don’t [...]

One of the barriers to working full time at home or in a small business is the cost of health insurance. One of the biggest factors in the soaring costs is the price of medication. The system for approving drugs for certain diseases is rigged to favor deep pocket, patentable players. Things you buy now [...]

Yesterday the Senate approved minimum wage increases with tax breaks for small business.
To attract Republican support, Senate leaders agreed to extend tax credits and expand deductions for businesses that would be hit hardest by the minimum-wage increase. Those tax breaks, worth $8.3 billion over 10 years, are coupled with a proposal to raise taxes by [...]

Dr. Gary North says “Never Pay Retail For College!” He’s got his own You Tube video and website to tell folks how to save up to 70% of the cost of a B.S. degree and get the most value for your money. He estimates (and you can see him do the math on the video [...]

The National Association of Manufacturers, among other businesses, is telling the government: “Fix The Schools”!
Most solo entrepreneurs don’t notice the problem as much. They have drive and desire that may overcome any lack of basic skills that stands in their way.
But it can become a problem when hiring other people and expanding your business. Then [...]

The health insurance-government complex may not be able to keep costs low, but in the time worn model of business “if you can’t beat them, sue them” they tried to get the government to clamp down on a private association of individuals who voluntarily helped each other with their health insurance expenses. The monthly cost [...]

The headline for the article from the Chicago Tribune reads “Home-business rules get tougher”. It’s the article that uses the words “cracking down”. And to be fair to the city, actually Naperville has RELAXED some stipulations on the number of employees who can work at a home business - they’d only allowed one previously.
What they’re [...]

President Bush is proposing a new Health Insurance Tax Deduction … up to $7,500 for individuals an $15,000 for families to help bridge the gap between those who have health insurance already paid for by an employer and those on Medicare, Medicaid, and other government funded plans.
It’s designed to make coverage more universal by encouraging [...]

When you can’t pick on the big guys because they can hire expensive lawyers, pick on the little guys because they’ll knuckle under to your intimidation and can’t hire $300 per hour tax attorneys to fight off the predators.
Supposedly by attacking small businesses and home businesses, they’ll get more tax revenue…that’s like going big game [...]