Tag Archives: Taxes

Business Issues Highlighted in WE Decide 2016

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By: Ann Sullivan, WIPP’s Chief Advocate

WE-Decide-2016_editedIs it just me or are the candidates ignoring economic issues that are business women’s bread and butter? The election so far has largely centered on social issues and impossible promises such as free college. What about taxes, healthcare costs, employee issues, access to capital and access to markets? And what about a positive message? Business owners are optimists – if they didn’t believe America was great, they wouldn’t take the risk of investing in a business. Someone out there thinks America is still the land of opportunity—to the tune of 10 million women business owners.

In all my years of working with Congress and Administrations, Republican or Democrat, WIPP has always taken the view that women who are business owners are influencers in their communities and a trusted source of information. Their focus is on results, sensible regulations and an investment in small businesses. Therefore, they have the obligation and privilege to make a difference in elections and policy platforms.

Hence, the launch of WE Decide 2016, a collaboration with Personal BlackBox (PBB). WIPP has provided a platform for women entrepreneurs to have their voices heard during the 2016 elections. WE Decide 2016 engages women business owners and women entrepreneurs to focus our message. The opinions shared through this initiative will culminate in a policy platform, which will be shared with the candidates at both national conventions.

WE Decide 2016 utilizes an interactive online platform to conduct polling and outreach to women business owners on the issues that affect our lives and businesses everyday. Through quick polls and issue surveys, we will be able to ascertain women business owners’ views in a timely manner and we will share the results with the media.

What makes WE Decide 2016 different from all the other avenues to share your opinion? Thanks to our partner, Personal BlackBox, WE Decide 2016 gives women control of their personal data and a safe place to express opinions privately with peers. Unlike current Presidential polls run by CNN, the DNC and RNC and even Facebook, the information you share with WE Decide 2016 will never be sold to anyone.

So, let’s get started. First step: go to WE Decide 2016 and register. We need an initial number of 1000 registrants to do credible polls. Step Two: ask all of your friends and networks to join the effort. Since we are 10 million strong and an economic force, women business owners are in a unique position to shape the conversation around issues and approaches that resonate with us.

Act now. Our businesses and our future depend on it.

Stop New Taxes on Internet Access

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internetThe Internet has revolutionized the way we communicate, learn, innovate and for business owners, it has been a game changer in their ability to manage and grow their businesses.  The Internet’s success and rapid growth is due in large part to a current law, the Internet Tax Freedom Act (ITFA), which has kept Internet access free from state and local taxes and fees since 1998.

We believe that Congress should act now and permanently extend the moratorium on taxing Internet access. ITFA is critical to keeping Internet access affordable for business owners and consumers, enhancing Internet adoption rates and growing the digital economy.

Finally, after much delay, it looks like the vote on a permanent version of ITFA could be as early as tomorrow! We need your help to urge your Senators support the Customs Bill and keep the Internet Tax Freedom Act in the bill. 

Urge your Senator to Support the Internet Tax Freedom Act!

With communications taxes on telephone services already on average at 17%, we don’t need the potential for another tax of close to 20% added to our Internet bills. In a time when our economy is still recovering, any money saved from the monthly bills of women-owned small businesses is much welcomed.

Tell your Senator to permanently extend ITFA today and keep Internet access free from new taxes.

More Taxes? No Taxes? How About Fair Taxes

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By John Stanford, WIPP Government Relations

WIPP recently submitted testimony to the House Small Business Committee on comprehensive tax reform. This blog gives an overview of WIPP’s advocacy efforts. For more details, I encourage you to read the testimony. Our government relations team strives to make official communications as easy-to-read as possible, but should you have questions please reach out to WIPP.   

 

Women entrepreneurs deserve a tax system that rewards the effort, tenacity, and risk it takes to start and grow a business. Moreover, they deserve a system of revenue collection (because that’s what taxes are) that is simple and fair.

In testimony submitted to the House Small Business Committee, WIPP said just that. Citing reports from the IRS National Taxpayer Advocate as well as the SBA Office of Advocacy, the testimony documents what women business owners already know: the tax system is broken, failing under the weight of complexity, uncertainty and outdated policies. But more importantly, the testimony addresses the impact of possible reforms – and the need for any overhaul to be comprehensive.

What does that mean? It means that the idea to lower the corporate tax rate, favored by the White House and some in Congress, must not happen independently of adjusting individual rates in a similar manner. This distinction matters because so many businesses, including almost 9 in 10 women-owned businesses, are structured as “pass-through” entities paying taxes as individuals (including S-Corps, Sole-proprietorships, partnerships, and LLCs).

Corporate-only reforms would be unfair to these businesses – and for that reason WIPP has always supported comprehensive (corporate + individual) reform. The testimony underscored this important point.

In addition, WIPP identified tax policies that, absent major reforms, would benefit women entrepreneurs. This includes making more small business tax credits and deductions permanent. In recent years, these tax “extenders” have been extended (hence their name) at the last minute, or even retroactively – not a good way for business owners to plan their budgets.

WIPP also asked Congress to consider tax credits that benefit new businesses, helping offset the costs of launching a new company. Another policy request was to avoid changing the Employee Stock Ownership Plan (ESOP) provisions in the tax code, as these have proven to be both popular and good tools to incentivize productivity and long-term business health.

In agreement with the idea that simple businesses (sales – costs = income) should have simple taxes, WIPP also supports simplifying the cash accounting method and expanding its optional use to more small businesses. Finally, with healthcare costs an always-growing burden on employers, WIPP continues its support of expanding the Small Business Health Care Tax Credit so more women entrepreneurs minimize the cost of providing healthcare to employees.

More ideas for reforming the tax system to incentivize entrepreneurship and innovation are out there. WIPP will continue working to identify policies that let women business owners focus more on their business and less on complex tax requirements. At the end of the day, all of these decisions should be made with the basic principles of simplicity and fairness in mind. And that’s exactly what we asked Congress to do.