• NASE President Offers Tax, Health Care Advice to
  Women Entrepreneurs

NASE President Offers Tax, Health Care Advice to
Women Entrepreneurs

From previous editions of Washington Watch, many of you already know that the NASE has been sponsoring a series of regional women entrepreneurship summits this summer. But you may not know the large role that NASE president Robert Hughes has played in these events.

So far, the Department of Labor, the Bush Administration and Members of Congress have hosted summits in Nashville, Tenn., and New Britain, Conn. Conferences in Houston, Texas, (on August 15) and St. Louis, Mo., (on September 9) are also planned, and more are in the works. The daylong conferences focus on access to capital, business development, health care, procurement and regional opportunities and contacts.

At the Nashville event, Bob offered tips to women micro-business owners on how they can obtain health coverage for themselves and their employees – at a reasonable price.

“Health coverage costs are rising past the point where micro-business owners can afford them,” he said. “But there are things entrepreneurs can do to be proactive in bringing their costs down.”

He suggested that micro-business owners:

• Look into options offered by trade associations such as the NASE, since many offer members discounts on health insurance;

• Contact their state’s insurance commission for resource guides or information on which companies provide individual or small group insurance;

• Use the Web for guides on purchasing health insurance, or sites that offer free quotes, letting users compare different policies;

• Become “smart shoppers” and buy only the coverage that fits their specific circumstances;

• Analyze their health risks and decide which risks to keep and which risks to give to the insurance company;

• Become actively engaged in advocating for solutions to the health care crisis by contacting their local, state and federal legislators.

At last week’s New Britain conference, Hughes participated in the tax panel. Being a self-employed CPA himself, Hughes understands the complexity of filing as a self-employed or micro-business owner and was able to offer tax strategies to the summit attendees.

He encouraged them to consider a home office deduction, medical reimbursement plans, employing their children, and specifically designed retirement plans for the self-employed. Hughes also suggested taking a close look at what incorporating could mean for your tax position – it may not always help.

Unfortunately, Hughes cannot attend the Houston conference. However, an NASE TaxTalk representative will be available to answer tax questions for participants.

If you have not already planned to attend one of the conferences in your area, the NASE encourages you to do so. They are proving to be an invaluable source of information for women micro-business owners.

Click here for more information, or to register for an upcoming summit.
 

Do any of these issues affect you? Do you want to be proactive in helping the micro-business community? Visit the NASE's Legislative Action Center and be a Small Business Crusader. Members of Congress appreciate hearing from their constituents. Letting your members know how you feel on an issue puts strength behind the NASE's legislative agenda.

For more information about any of the articles in Washington Watch, contact Maureen Petron, NASE public affairs manager, at (202) 466-2100 or mpetron@nase.org.