Home Wealth Project
Extensive Research On How To Build Wealth From The Comfort Of Your Own Home.
Obama Proposal Aims to Cut Unemployment Tax Payments
Feb 12th
The idea of raising taxes in the midst of what continues to be a rocky time for small businesses is understandably anathema to many entrepreneurs. After all, keeping the doors open and the lights on is hard enough as the unemployment rate continues to hover around 9 percent and many shoppers are still pinching their pennies.
On the flip side, forcing states to pony up for unemployment spending might eventually cause an unwanted financial impact for business owners.
So far, 30 states have exhausted their unemployment insurance trust funds and have already borrowed an estimated $41 billion from the federal government to help jobless residents pay their bills, according to a report released yesterday from the Center on Budget and Policy Priorities and the National Employment Law Project. That tally is expected to reach a record $65 billion by 2013, according to the U.S. Labor Department.
So what does all this mean? Employers of all sizes could face a significant increase in their tax bills.
Here’s how: To repay the principal on those loans, federal unemployment insurance taxes on employers are set to rise automatically in a number of states this year or in 2012, and tick up higher over the next few years, according to the joint study. The minimum taxable wage base in 18 states has already risen to $15,000 from $7,000 where the wage base has been for decades.
But President Barack Obama has a plan — which he expects to detail in his 2012 budget due out next week — to give employers and states a much needed break by deferring those federal loan interest payments into 2014. He also proposes to postpone automatic tax increases for two years.
Response to the proposal has been mixed. Some republicans are against it since they say a number of states will be forced to raise unemployment taxes on businesses in the future. Meanwhile, a number of think tanks have thrown their support either behind the President’s plan or similar reforms citing bigger problems if nothing gets done.
Indeed, with this proposal, small-business owners in states that owe the government money can avoid paying $5 billion to $7 billion in higher federal unemployment insurance taxes before the end of 2013, and $16 billion to $24 billion over the next five years, said the joint study.
Is President Obama on to something with this? What’s your take?
View full post on Entrepreneur.com – Daily Dose
The Big Switch to Internet TV & How Clicker Aims to be Your TV Guide
Sep 29th
| Television is one of the biggest markets in entertainment, but it is at the early stages of a huge shift online. While most people still watch TV through… |
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USAID Aims to Increase Transparency, Promote Social Good [VIDEO]
Sep 23rd
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Shah isn’t the only official that has been discussing the potentially significant role social media, and other forms of digital technology, can play… |
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New club aims to help enthusiasts learn how to cash in on social networking – City & Region – The Buffalo News
Sep 23rd
| Nicole Schuman, president and co-founder of Social Media Club Buffalo, said the club is open to all kinds of savvy users of… |
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Website Aims to Connect Commuters Through Social Serendipity
Aug 27th
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Bumped.in takes a similar approach to travel plans but hopes to throw in a bit of social media serendipity to create fruitful… |
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HP aims to measure Twitter influence
Aug 8th
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You can read the whole thing after the break. Influence and Passivity in Social Media – HP Labs Research |
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Berlusconi aims to restrict blogging and social networking freedom
Jul 31st
| Not content with trying to restrict the newspapers he doesn’t… to interfere with the freedom of bloggers and the users of social networking… |
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Overstock.com’s Main Street Revolution Initiative Aims to Help Small Businesses
Jul 29th
Will small business lift the economy out of recession? Overstock.com CEO Patrick Byrne hopes so, and he’s trying to help. Recently the online discount retailer announced the launch of its “Main Street Revolution Initiative,” an effort intended to increase the visibility of small, local businesses by giving them an avenue for exposure to national markets.
“This represents a grand opportunity for producers and consumers nationwide to participate and contribute to the national recovery effort,” Byrne said in a statement. “Main Street can be the engine that lifts us out of the recession that Wall Street created.”
Targeting small and minority-owned businesses, Main Street Revolution is a partnership with Overstock.com that enables producers of consumer products to sell their products on Overstock.com and O.biz (Overstock.com’s B2B website).
“The point of this program is to sell products we’ve sourced from entrepreneurs around the country,” Byrne said. “By joining our network, small-business owners can reduce their supply chain costs and expand the awareness of their products among a much bigger audience.”
Overstock.com is working with local chambers of commerce to find small-business owners to participate in the program. In addition to helping “homegrown” businesses reach a national audience, the program helps consumers support small businesses they otherwise might never have heard of.
Overstock.com’s site highlights some successful examples of Main Street participants, including a Minnesota gift-basket entrepreneur who sold more than $200,000 in gift baskets in December alone after joining the program; a chocolate manufacturer whose business has grown so much she’s been able to buy new equipment and add new product lines; and a homebased entrepreneur who designs and sells urban-themed T-shirts.
At first, Main Street products will be listed within their appropriate shopping categories on Overstock.com, Byrne explained. As soon as a critical mass of partners is reached, however, their products will be consolidated into a “Main Street” store on the company’s website.
Overstock.com hopes the Main Street Revolution initiative will be as successful as the Worldstock program, which it launched in 2001. As of April, the Worldstock program—which gives global artisans from places like Bali, Columbia, Ghana, Nepal and Thailand the chance to sell their products on Overstock.com—had surpassed $50 million in total payments. It’s also a top tab on the Overstock.com home page.
For more information about participating in Overstock’s Main Street Revolution, go to the Overstock website to view a video. If you’d like to participate or find out additional details, contact mainstreet@overstock.com.
Overstock.com’s Main Street Revolution Initiative Aims to Help Small Businesses
View full post on Small Business News, Tips, Advice – Small Business Trends
Kabel Deutschland Aims at 1 Billion-Euro Small-Business Market
Jul 22nd
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Kabel Deutschland Holding AG, will increase average revenue per customer and sell Internet and telephone services to businesses, taking market share… |
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New Social Media Company Weedle Aims to Market Your Skills
Jun 21st
| New social media company Weedle, has launched a free web service that allows individuals to market their skills globally, has announced the next phase… |
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