Changing regulations often affect small businesses either directly or indirectly. Our feeling atSmall Business Trendsis that, for most small business owners and entrepreneurs, less is more when it comes to rules and regs. However, this ideal isn’t always reached by governments that want their thumbs on the economy and, more particularly, the revenue it represents. Here’s a look at the changing landscape.
Trends
IRS focuses upon online business. It’s hardly good news for online entrepreneurs, but the Internal Revenue Service is expected to catch up with business earnings online this year. Be aware. When it comes to online small business operations in 2011, the government has it’s eye on your.Daily Dose
Businesses vent about government regs. There is plenty to complain about when it comes to burdensome regulations and their impact on business large and small. While some rules arguably improve public health and safety in the worplace, many businesses see others as cumbersome and costly. Businesses told their side at a recent U.S. House hearing but what will be the result?Yahoo! News
New government finance regs are complicated to say the least. Here from the Friends of the U.S. Chamber of Commerce is an interactive chart demonstrating their complexities. Can you follow the way the hundreds of regulations wind through scores of government agencies in this perplexing financial overall. And how will it affect the ongoing operation of small and medium sized businesses who operate under it.Friends of the U.S. Chamber of Commerce
Taxes
Deducting your home office expenses. Are you a small business owner working out of the home? Than this is the post for you! Learn more about the full list of business deductions you can take for your small home business. Starting a business is tough enough. Avoid unnecessary costs when paying your taxes to save the maximum for you in the futureLending Tree Blog
When are business losses a good thing? Well, never really, but be sure you write them off when tax time rolls around. In fact, it is very important to keep track of losses when your businesses experiences them because this can definitely benefit you when it comes to estimating what you owe. Don’t pay more than you have to, especially in a bad year and focus on how losses can be translated to your tax return instead.Open Forum
Government Regs
Which government regs really hurt business. From those designed to protect the environment to those aimed at employee safety, government regulations are supposed to protect the public from harm. But what happens when those regulations are also so costly to follow that they restrict business growth especially at a time when growth in the business secter is desperately needed?PBS
The reality of government regulation. Michael Sinensky, a small business owner in New York City, tells how regulations set up to protect employees in the restaurant and bar industry usually end up doing just the opposite. Why? Because increasing costs for small business owners usually causes them to cut costs at employees’ expense. Read what else Sinensky has to say about what truly must be done to save small business.Business Insider
Small Biz Basics
Small businesses bear the brunt. When it comes to environmental and many other regulations, costs for smaller businesses to comply with government regulations are higher than for their larger competitors. Much higher! So if leaders acknowledge the importance of small businesses to economic recovery, they must understand the need to drastically reform the way small businesses are treated. Let’s start now.Business Insider
Waiting on the SBA. Five months ago, Congress enacted a program aimed at helping small businesses to refinance their mortgages potentially saving many businesses from closing. But to date, no small businesses who need the program have beeb able to pursue it. Why? Because the Small Business Administration charged with the task has still not created rules to explain how the new program works.Los Angeles Times
Conclusion
Even regulations need a budget. Few question whether some regulation may be important to protect public safety, but shouldn’t regulations (at least those related to business) be reviewed from time to time too? New legislation would do just that and force accountability by the agencies in charge of administrating them.OpenMarket.org
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