What is in it for US?

The Stimulus Plan has been law for almost 6 months. Have you taken action to ensure that your company benefits from the plan? If not, here are some of the ways your business could benefit.

Next year you could recieve up to $2,400 in tax credits for hiring veterans and youth. Please note, you should always hire the most qualified individual for the position. However, you may want to review your recruiting procedures to ensure that you are recruiting and advertising vacancies to these target demographics.

The plan maintains the increase from last year which allowed businesses to deduct up to $250,000 for capital investments. This is twice as much as in prior years.

You can raise money easier because the plan allows small businesses to exclude up to 75 percent of the gain from the sale of stock held for more than five years.

If your annual reciepts are under $15 million, there is an expanded net operating loss carry-back provision for small businesses. You can write off current losses against profits earned in the past five years instead of the last two years.

There are many other provisions which may apply to your small business. Please consult a tax professional for more information.

Bringing the Health Care Debate Home

There is a lot of talk in the news regarding an impending health care overhaul. Part of this overhaul may require businesses to offer coverage to employees. However, regardless of what law is passed regarding this matter, there may be some reasons you would want to consider regarding why this is of benefit to you and your business.

Recruitment- althought the job market today is less competitve (among business owners) the truth is that there is alway competition for the best. For those job applicants that can choose to be picky, benefits packages may help you attract the more qualified individuals to your company.

Decrease Absences/Increase Productivity- healthy employees take less sick leave and have more energy and greater focus than those who are frequently ill. In addition, if the family members are covered, you should note that there is less time spent away from the office dealing with those matters as well. 

Feasible- there are many different ways to assist your employees with obtaining the coverage they need including: health care savings accounts and pooling/sharing costs with other small business owners through association programs. Feel free to contact melvinb@insurancedp.net for more information.