How To Fix The EconomyAnd Quick
As a small business owner Payroll Associates Sparkle Pool Service amp; CompanyMileage.com I have created over 60 jobs..And by the way there are millions of businesses like mine. And by the way small business account for 60 of the private jobs in the economy.
Whats the problem? The stimulus bill is almost 800 billion yet only 3.6 billion is tagged for small business that is less than of 1 percent.
Lets call my plan the Entrepreneur Growth Bill
If you hire an employee on unemployment the employer will receive the unemployment income during the acclimation of the new employee 3 monthsThink about being able to add to you staff for only a few hundred dollars a week.
Get a double deduction for all health premiums paid by the employer
New investment in small businesses whether from individuals or venture capitalist is given a double basis for long term capital gains.
Small businesses that sell can defer their capital gain for 5 years if they roll it into a new business
My plan will accomplish 2 big goals
1st. Motivate small businesses to hire
2nd. Motivate investors to get off of the sideline and invest again in entrepreneurs
As I am launching a new business and dealing with the fact that in the last few years I have watch a huge portion of my proceeds of my last business vanish in the markets realize that the 1m in taxes I paid are going to nonstimulus spendingall I can think is what if I was forced to spend that tax bill on my new company? How many people would I hire today
Then again as a veteran entrepreneur and a CPAwhat do I know.
Helpful Links
SBA Economic Stimulus Package http://www.sba.gov/stimulus/
WSJ How Obamas Plans Could Affect Entrepreneurs http://blogs.wsj.com/independentstreet/2009/02/25/howobamasplanscouldaffectentrepreneurs/
About the writer:nbsp;nbsp;Kevin WintersCPA 15 year EntrepreneurFounder of Payroll AssociatesFounder of CompanyMileage.comCoOwner of Sparkle Pool ServicePast Board Member Entrepreneurs Organization
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