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“Every year, the tax burden becomes more costly for America’s 28 million small businesses. The tax code is increasingly complicated and changes often. Most small businesses spend 40 hours or more preparing their taxes, and four out of ten businesses spend two full workweeks on compliance. That is a high cost in lost time and productivity for a small business. One in three small firms spends $10,000 on compliance. Jobs are still scarce, and the combined burdens of complex taxes and high rates are obstacles to growth. The jobs-stifling tax code is not just a Tax Day problem for small companies, but a year-round burden on their budgets that can impact their entrepreneurial decisions. Small businesses overwhelmingly support sensible reforms for lower rates, simpler preparation and clearer guidelines.”
Last week, the Small Business Committee examined these very challenges for small businesses. The growing number of tax provisions means that owners must spend significant resources on compliance that could otherwise be spent growing their companies. According to the Internal Revenue Service’s own National Taxpayer Advocate, there were over 500 changes to the tax code in 2010 alone, an average of more than one per day. And the steep tax rates mean small firms have less capital to invest back into hiring or expanding.
The National Small Business Association released a survey on April 9, 2014, in conjunction with the testimony of NSBA member Tim Reynolds, a small business executive. The growing complexity of the tax process causes 86 percent of small businesses to pay tax preparers.###
On April 24, 2014, the Food and Drug Administration (FDA) Center for Tobacco Products issued a proposed rule that would deem formerly unregulated products as “tobacco products” subject to FDA regulation under the Family Smoking Prevention and Tobacco Control Act of 2009.
On April 24, 2014, the Food and Drug Administration (FDA) Center for Tobacco Products issued a proposed rule that would deem formerly unregulated products as “tobacco products” subject
Today, I’m sharing with you numbers 21-30 of the 100 great questions every entrepreneur should ask from the Inc.com article.
The Environmental Protection Agency (EPA) and the U.S. Army Corps of Engineers (Corps) have proposed a rule defining the scope of waters protected under the Clean Water Act (CWA). This proposal would set forth several categories of waters to be included in the definition as well as establish waters that are subject to the act. The comment period closes July 21, 2014.
The Environmental Protection Agency (EPA) and the U.S.
GSA Announces Open Dialogue on Improving Federal Procurement . The Chief Acquisition Officers Council (CAOC), in coordination with the Federal Acquisition Regulatory Council (FAR Council), the Chief Information Officers Council (CIOC), the General Services Administration (GSA) and the Office of Management and Budget's (OMB) Office of Federal Procurement Policy (OFPP), is conducting an open dialogue to discuss improvements to the federal acquisition process.
GSA Announces Open Dialogue on Improving Federal Procurement . The Chief Acquisition Officers Council (CAOC), in coordination with the Federal Acquisition Regulatory Council (FAR Council), th
On its website to alert small businesses to burdensome federal regulations, the House Small Business Committee added April 23 the recently proposed rule that would assert Clean Water Act jurisdiction over the nation's waters and wetlands.
The Environmental Protection Agency and the U.S. Army Corps of Engineers jointly proposed a rule, published April 21, that would bring under federal jurisdiction all tributaries of streams, lakes, ponds and impoundments, as well as wetlands that affect the chemical, physical and biological integrity of larger, navigable downstream waters. The agencies plan to accept comment on the proposed rule until July 21.
The Committee started the regulatory alert website, Small Biz Reg Watch, in February 2013 to inform small businesses about pending environmental and other federal regulations and provide them a direct link for submitting comments on such rules.
Since the inception of the website, the focus has expanded from six to 23 regulations that are open for comment, including the EPA's regulations for greenhouse gas emissions, agriculture worker protection from pesticides and performance standards for new residential wood heaters.
The House Small Business Committee April 23 added the recently proposed rule that would clarify Clean Water Act jurisdiction over the nation's waters and wetlands to its website alerting small businesses to burdensome federal regulations.
The Environmental Protection Agency and the U.S. Army Corps of Engineers jointly proposed a rule April 21 that would bring under federal jurisdiction all tributaries of streams, lakes, ponds and impoundments, as well as wetlands that affect the chemical, physical and biological integrity of larger, navigable downstream waters. The agencies are accepting comment on the proposed rule until July 21 (79 Fed. Reg. 2,218; 77 DER A-13, 4/22/14).
“The EPA and Corps are proposing to expand the jurisdiction of the Clean Water Act to include nearly every damp patch of land in the United States,” Committee Chairman Sam Graves (R-Mo.) said in a statement.
Graves termed the proposed rule a “regulatory overreach,” saying this “means small businesses and landowners may need costly permits and face lengthy delays for ordinary activities on private property.”
Small Biz Reg Watch Website
The committee started the regulatory alert website, Small Biz Reg Watch, in February 2013 to inform small businesses of pending environmental and other federal regulations and provide them with a direct link for submitting comments to the committee on such rules (23 DER A-22, 2/4/13).
Since the inception of the Website, the focus has expanded from six to 23 regulations open for comment, including the EPA's regulations for greenhouse gas emissions, agriculture worker protection from pesticides and standards for new residential wood heaters.
House Education and the Workforce Committee Chairman John Kline (R-MN) and Workforce Protections Subcommittee Chairman Tim Walberg (R-MI) today released the following joint statement after the Department of Labor announced a final rule concerning respirable coal dust:
For too long a flawed regulatory process has stymied efforts to provide stronger black lung protections. No miner should go to work without the best standards in place to guard against this deadly disease. And there is no good reason why industry, labor, and MSHA can’t come together to find agreement on what those safety standards should be.
While we intend to carefully review the regulation, today’s announcement should not be the end of this important discussion. No doubt stakeholders will continue to raise concerns with the new rules and offer ideas for improvement. We strongly urge the administration to engage those affected by the regulation, to guarantee the best tools, technologies, and practices are present in every mine. Only then can we ensure every miner is safe from the threat of black lung.
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The EPA and the Corps are proposing to revise the definition of “waters of the United States” which are those waters subject to the requirements of the CWA. The proposed rule, as currently drafted, will lead to an unprecedented expansion of federal regulatory jurisdiction. Under this expansive proposed rule, all tributaries – even small streams that only flow irregularly or when it rains – and all adjacent waters and wetlands, fall under this definition as federally-controlled waters. This includes small, temporary bodies of water, such as ditches, that may be dry for much of the year. In addition, the agencies could assert CWA jurisdiction over “other waters” on a case-by-case basis.
“The EPA and Corps are proposing to expand the jurisdiction of the Clean Water Act to include nearly every damp patch of land in the United States,” said Chairman Graves. “This regulatory overreach means small businesses and landowners may need costly permits and face lengthy delays for ordinary activities on private property. Projects may need to be redesigned or relocated to satisfy federal regulators. Worse, permit applications may be denied. This extraordinary intrusion into the lives of many farmers, ranchers and small business owners has the likely potential to be economically devastating and must be stopped.”
Through the "Small Biz Reg Watch" initiative, the Committee regularly highlights new agency proposed rules that may have a significant effect on small businesses. The Committee also communicates with small businesses via email and social media when new comment periods begin for select proposed rules that have a significant impact on a wide array of small businesses. The Committee recently changed and upgraded the Reg Watch format to better serve small businesses. That updated website URL is: http://smallbusiness.house.gov/resources/reg-watch.htm.
After putting on full body armor and getting on a bike that resembles something from a Sci-Fi movie, he took off out of the starting gate. My 16 year old son, Tommy, takes off attacking the track, flying through the air, going over boulders and around turns like they don’t even exist. He is FEARLESS and does it EFFORTLESSLY. This past weekend I took Tommy to race his downhill mountain bike at the Sea Otter Classic in Monterey. It is a huge biking event attended by over 60,000 people from around the world. It is pretty amazing to see all of those biking enthusiasts and vendors in one place.
Downhill mountain biking for those of you who have not done it before is gnarly to say the least. I have done it a couple of times with Tommy up in Tahoe, but when I did it, unlike Tommy, I was everything but fearless and effortless. I squeezed the hand grips like I was trying to strangle them and the only thing that was going through my head was my mortality. “Just don’t crash.” Fortunately, with the exception of a few sore muscles and minor crashes, I am happy to say I have not experienced any major wipe outs or broken bones downhilling. The funny thing is my son very rarely ever crashes. And when he does, he brushes himself off, gets right back on the bike and lets it rip again.
So what is the lesson of this extreme sport? Attack whatever you do with Passion, Fearlessly and Effortlessly. If you do, you will do better, go faster, suffer fewer setbacks and reach your full potential. When we are young our lives are all about growing and going for it. It is all about new unfamiliar experiences. Every day you wake up as a kid you are being pushed and encouraged by your parents, teachers, coaches and mentors to go for it. However, at some point in life, society puts the brakes on all of this growing and going for it. It plants the “play it safe, don’t go for it, what if you can’t” in our brains. All too often as we get older we let our fears and caution hold us back from CRUSHING IT! Unlike a kid we get too worried about what happens if things don’t work out instead of focusing on what will happen if they do.
As we know, what we focus on expands. So if we hold back and worry about what will happen if things don’t work out, we will experience major wipe outs and broken bones. On the other hand if we attack with fearlessness and do it effortlessly, we will fly and CRUSH IT! The million dollar question is how do we do go back to having the mindset of a kid? How do we go back to being FEARLESS? Start with spending more time with kids and with people who go against the status quo. Spend time with risk takers, people that go for it and attack life. Remember we are the average of the people we spend the majority of our time with. Be aware of who you are spending your time with. Make it a great week as you attack the downhill mountain biking tracks of your life.