In this week’s small business news roundup, we’ll talk about legislation that could help and hurt small businesses, the latest on jobs, and how to maximize 401(k) profit sharing as well as business losses. Let’s go!
- House Approves Small Business Bills: The Wall Street Journal reports on two bills approved by the House that are “intended to make it easier for small businesses to access capital, and in turn create more jobs.” Both measures passed nearly unanimously—now we’ll wait to see what happens in the Senate.
- Small Business Employment Still Sluggish In October: Intuit’s Small Business Employment Index reported that small business employment grew by 30,000 new jobs in October, down 10,000 from September. But before you get too down about this news . . .
- A bright spot for small businesses: Job creation: From CNNMoney: “Even though widely cited surveys suggest they continue having a gloomy picture of the economy, small businesses are actually hiring considerably more than big companies.” Economist Paul Dales, an economist with Capital Economics insists that “[t]hings are pretty bad but they’re not as bad as some believe.”
- How 401(k) Profit Sharing Helps Small Business Owners Maximize Their Savings: The IRS recently announced an increase in the “annual amount any individual employee can contribute and receive into their 401(k) plan in a given year.” Stuart Robertson at Forbes gives a rundown of how to best use 401(k) profit sharing.
- Best Way to Harvest Tax Loss for Small Business: Some advice from Fox Business on how to best plan to utilize business losses on your tax forms. And while we’re on the subject of taxes . . .
- How corporate tax breaks could hurt small business: From The Washington Post, a discussion about the potential effects of corporate tax cuts on small businesses.
What’s new in your small business world this week?