Business Economists on Taxes

August 31, 2010

by Brad Peck Quick hit from CNN Money on a National Association of Business Economists survey: "One area where there was broad agreement in the survey was the question of tax cuts. A majority of economists said that none of the existing tax cuts on individual income, dividends and capital gains should be allowed to expire."...[more]

Small Businesses and the Whims of Government

August 31, 2010

by Brad Peck Snips from two great letters today in the Wall Street Journal: ...as a small businessman I would like to ask all pundits, academics and politicians to please shut up and visit a small business and see firsthand what the problems are. Taxes are oppressive and strangling the U.S. economy. Tax credits and other tax gimmicks can't have the dynamic impact of an across-the-board tax reducti...[more]

Business Tax Increases

August 30, 2010

by Caroline Harris Today I have a commentary on the Capital Business section of the Washington Post: [I]f Congress does not act, on Jan. 1, Americans will face the biggest tax hike in history. Marginal income tax rates will increase for every taxpayer. The capital gains tax rate will climb 33 percent. Dividend rates for stockholders will jump by as much as 164 percent. The child tax credit will be...[more]

Priority 1 - Allow Small Businesses to Prosper

August 27, 2010

by Brad Peck Investor's Business Daily writes: It is smaller businesses, and especially new entrepreneurial businesses, that drive each new business cycle. And the government — including the politicians who set tax policy — should recognize what these innovative companies do in their first 10 or 15 years. The SBA defines a small business as one with fewer than 500 people. And yes, when Sam Wal...[more]

Why I'm Not Hiring

August 27, 2010

by Brad Peck A business owner explains: It's simple: uncertainty...To be clear, business owners can handle risk — it's a very big part of what we do. But we're not idiots...Here's the thing — entrepreneurs like calculated risks, risks that we think are likely to yield profits for us. Very few successful entrepreneurs will gamble with their companies, betting the whole enterprise on a lark. We ...[more]

A Flummoxed and Hostile Government != Jobs

August 25, 2010

by Brad Peck From CNET: Intel chief executive Paul Otellini offered a depressing set of observations about the economy and the Obama administration Monday evening, coupled with a dark commentary on the future of the technology industry if nothing changes...Unless government policies are altered, he predicted, "the next big thing will not be invented here. Jobs will not be created here." The U.S. l...[more]

Three Real Reasons Companies Aren't Hiring

August 23, 2010

by Jason Speer This past Saturday the Washington Post ran a front page story titled "The real reason companies aren't hiring." I was interviewed for that story resulting in the following paragraphs: "Congress has been very tough on businesses," said Jason Speer, chief executive of Quality Float Works of Schaumburg, Ill., which makes the industrial equivalent of toilet ball floats, items that sell ...[more]

Small Businesses Sound Off On Tax Hikes

August 23, 2010

by Brad Peck From the Wall Street Journal: Karen Port of St. Louis fears that President Barack Obama's plan to let tax rates rise for top earners will be a double whammy for her hot-tub dealership. Not only would the company—which takes in between $1 million and $3 million annually in gross sales—pay taxes at a higher rate, but the tax increases could leave less money for customers to spend on...[more]

CPAs on HCRs 1099 Reporting Mandate

August 20, 2010

by Brad Peck At WebCPA Roger Russell looks at the 1099 reporting mandate in the health care bill, and the American Institute of Certified Public Accountants take on it: On almost anyone’s benefit-burden scale, the burdens far outweigh the benefits...The AICPA was among the numerous organization responding to the requirements, saying it would be especially burdensome and costly for small business...[more]

Small Firms - Big Job Losses

August 18, 2010

by Brad Peck From the Wall Street Journal this afternoon: Most of the job losses at the end of last year took place at the smallest firms, underscoring how small businesses are lagging in the recovery.Businesses with fewer than 50 employees accounted for 61.8% of all job cuts in the private sector in the fourth quarter, the Labor Department reported Wednesday, while they created 54.1% of new jobs....[more]