It’s hard to hear of any good news coming from Washington DC these days. And that’s true no matter what side of the aisle you sit.
But there was one piece of legislation that did actually get some bipartisan support. And it’s being lauded by small business advocates everywhere.
It’s the new US-Mexico-Canada trade deal, also known as USMCA. This is the deal that replaces NAFTA, which quickly fell out of favor with much of the small business community when it was enacted in the 1990s.
Perhaps the new USMCA deal could be the template for more bipartisan legislation in Washington? Let’s not get too far ahead of ourselves, right?
Instead, check out what others are saying about the new USMCA deal. And then check out the rest of the headlines this week that matter most to small business owners in our weekly small business news and information roundup.
Small Business News
Millennials Still Using Facebook More Than Any Other Social Media Site
Facebook remains the most used social media platform across the United States across all age groups. And none use it more than the millennial generation. The finding comes from the 2020 Consumer Culture Report. The report provides insight into the complexities of modern consumer’s motivations, influences and purchasing habits.
Economy is Most Important Election Issue for Small Business Owners
The 2020 Iowa Caucuses just got underway, officially launching the presidential race as the remaining candidates fight it out to be on the ballot for the election in November. This means addressing issues people are concerned about, which includes small business owners.
What Men Want – Analyzing Their Shopping Behaviors
Want to attract more male shoppers to your business? Start by tossing out old stereotypes about men hating to shop. And forget most of what you assume about male shopping behavior. A recent consumer survey by First Insight reveals men are actually shopping more than women across most online and traditional retail channels.
accessiBe: AI Powered Compliance Software You Can Set and Forget
You must make sure that your website is accessible to handicapped individuals. It turns out this is more than a social responsibility these days. Ignore these requirements and face a possible lawsuit or at the least get a demand letter. And don’t forget about the possible loss of business. Enter accessiBe. This software uses one line of code and AI to keep your website compliant.
Taxes
Tax season is upon us. We’ve just updated and improved our tax content for small business owners. Check out the latest updates:
Estimated Tax Payments: Answers for Small Business Owners and Self-Employed
Estimated income tax payments remain a fact of life for most of us who run our own businesses. Those who are employed receive paychecks where the employer withholds taxes. But most business owners and the self-employed must to periodically send an amount called “estimated tax payments” to the IRS. You may also need to pay estimated taxes to your state taxing authority.
A Guide to Taxes for Your Side Business
The gig economy has made side business a norm. Whether it is Uber or Fiverr, professions across virtually every industry are now earning money as a side business. Plumbers and electricians are working on TaskRabbit as are homeowners renting their property on Airbnb. There seems to be no end to what the side business has become.
What Is the Research and Development Tax Credit?
Your business spends money and effort in looking for a new, improved, or technologically advanced product or process. The federal government may reward you through a tax credit. The research and development tax credit, technically called the credit for increasing research activities, serves as a way to recoup some of the cost of this activity and cut your tax bill.
Small Business Glossary for Tax Terms
No one doubts the complexity of the Tax Code. And these complications arise from the tax terms in accounting. But they also arise from what the IRS uses in all its tax forms. This glossary serves as a quick reference guide. As a result, use it to find out what exactly the tax terms mean.
What’s the Qualified Business Income Deduction and Can You Claim It?
The Tax Cuts and Jobs Act drastically cut the corporate tax rate. But it also introduced the qualified business income (QBI) deduction. The QBI offers a way to lower the effective tax rate on the profits of owners of pass-through entities. These include sole proprietorships (including independent contractors), partnerships, limited liability companies, and S corporations.
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This article, "In the New: Small Business Community Supports New USMCA Trade Deal" was first published on Small Business Trends
February 7, 2020 at 06:13PM
via https//www.brucedayne.com/
Small Business Editor, Khareem Sudlow
