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Dear Congress, Please Take It Easy On The Small-Business Owner
May 08, 2009
Simplified Tax Forms Would Free 60 Hours For Entrepreneurs Washington, D.C., May 8, 2009 -- A self-employed taxpayer, who files the Form 1040 with corresponding Schedule C,
will spend nearly 60 hours and $440 dollars to complete the return, according to
the Internal Revenue Service (IRS). To help remedy that, the National
Association for the Self-Employed (NASE) spoke with members of Congress today
about how small businesses would benefit from a reduction in the complexity and
amount of their tax paperwork.
Micro-businesses are often bogged down
with complexity of the tax code and tax forms. The NASE's National Tax Advisor
Keith Hall named four steps the federal government could take to help: 1)
the Internal Revenue Service's adoption of more simplified, "plain English"
forms and documentation; 2) the establishment of a standard home office
deduction; 3) clarification of the definition of an independent contractor; and
4) allowing sole proprietors to deduct their health insurance premiums in the
same manner as larger corporations.
"The IRS's Office of Burden
Reduction has implemented many positive changes by making IRS.gov more
accessible to business owners and information much easier to obtain," Hall said.
"We would like to keep that momentum going by asking Congress to approve current
legislation that would simplify the tax code. Two examples would be the creation
of a $1,500 standard home office deduction, and allowing small businesses to
deduct the cost of their health insurance premiums as a business
expense."
In March, President Obama announced that he was establishing a
task force that would raise revenue by narrowing the tax gap, or the difference
between what the I.R.S. collects annually versus what it is owed. In the past,
small business taxpayers have been blamed for a large portion of the tax gap.
Hall urged the committee to consider the effect that any new legislation could
have on the nation's entrepreneurs.
See highlights of Keith Hall's
testimony on YouTube.
Track the progress of current legislation that
would help micro-businesses and the self-employed by visiting advocacy.NASE.org.
About the NASE
The National Association for the Self-Employed (NASE) is the nation's leading resource for the self-employed and micro-businesses, bringing a broad range of benefits to help entrepreneurs succeed and to drive the continued growth of this vital segment of the American economy. The NASE is a 501(c) (6) nonprofit organization and provides big-business advantages to hundreds of thousands of micro-businesses across the United States. For more information, visit the association's Web site at www.nase.org.
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Press Releases
- NASE Lauds Senate For Introducing Small Business Tax Extenders Act
The NASE’s recent call to Congress to heed the Self-Employed Agenda focusing on taxes was heard this week in the Senate. Senators Olympia Snowe (R-Maine) and Mary Landrieu (D-La.) introduced the Small Business Tax Extenders Act of 2012, which would continue some popular tax breaks for the self-employed and micro-businesses (10 or fewer employees) for an additional two years.
- Updated: NASE Supports Bill To Cut Excessive Paperwork For Small Businesses
The National Association for the Self-Employed (NASE) announced its support today of a bill that would help decrease a potential paperwork nightmare for the self-employed and micro-businesses (10 or fewer employees).
- NASE, Obama Administration Celebrate One-Year Anniversary Of Startup America Initiative
“Tax incentives for startups and for businesses that have recently purchased new equipment are certainly a start, but we are concerned that so few of the policies suggested actually apply to the largest segment of small businesses – the self-employed and micro-businesses. That key demographic makes up more than 78% of the nation’s small business population,” commented NASE President Kristie L. Arslan.
- NASE To The White House And Congress: Don’t Forget The Self-Employed Agenda This Year
As the President prepares to deliver his annual State of the Union address and Members of Congress prepare their talking points in response, the 22 million Americans who are self-employed must not be forgotten in the back and forth over big policy changes.
- Small Businesses Support SBA Cabinet Level Status
As news reports circulate that President Obama will recommend the Small Business Administration (SBA) be elevated to Cabinet-level status, Kristie Arslan, President and CEO of the NASE, reacted by supporting the effort saying “it signals the importance of the small business community to our national economy.”
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