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April 13, 2005
NASE Micro-businesses Voice Positions on Social Security Reform
A majority of micro-business owners think the Social Security system in this country has major problems that need to be addressed, but that we are not in a crisis, according to an online, non-scientific member poll by the National Association for the Self-Employed (NASE). Sixty-one percent of respondents favored the option of creating personal retirement accounts. Most members opposed increases in the amount paid into the system or any reduction of benefits.
“The self-employed and micro-business owners represent an important perspective on the Social Security debate,” said president of the NASE Robert Hughes. “The NASE conducted an online poll to find the pulse on Social Security reform with this demographic. Based on the results of this poll and other member research currently in progress, the NASE will support policy reform that most benefits micro-businesses.”
The online poll aimed to grasp members’ opinions on Social Security reform as well as their position as the self-employed and micro-business owners in the system. Only one-third of respondents claimed that Social Security would be their main source of income during retirement and about 52 percent felt that they paid more into the system as a self-employed individual than other employers and workers.
Nearly 80 percent of respondents said that Social Security needs to be reformed, but only 30 percent felt the system was in crisis.
Overall, respondents opposed changes that would raise the amount employers and workers would have to contribute (78 percent), raise the retirement age (71 percent), or reduce the amount of benefits for future retirees (83 percent). A majority of respondents were in favor of limiting benefits for wealthy retirees (57 percent).
In addition to the 61 percent that favored putting part of their payroll taxes into a personal retirement account, respondents also overwhelmingly favored tax incentives and ways individuals can increase personal retirement savings (94 percent).
“The NASE will take these results to legislators and demand that the micro-business perspective be considered in all possible reforms to the social security system,” said Kristie Darien, NASE executive director of the legislative office.
Methodology:
Posted in the NASE members-only portal on the NASE Web site, the survey was available for members to take through the month of March. Over 450 NASE members opted-in to the survey and members were prohibited from taking it more than once.
To see the full results of the online member poll, visit http://advocacy.nase.org/.
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NASE Teams Up with Online Mentoring Resource
The National Association for the Self-Employed (NASE) recently announced a strategic partnership with the online mentoring program MicroMentor. MicroMentor uses Internet technology to connect emerging entrepreneurs to individuals who have successfully navigated business ownership or management in the same industry.
“We became involved with MicroMentor when the NASE’s Women’s Advisory Council identified mentoring as a growth strategy that the association could help members with,” said NASE President Robert Hughes. “Mentoring can help all businesses in every stage of development, and the MicroMentor program generates these relationships without barriers to location, time, or cost.”
Based on research by the Washington, D.C.-based Aspen Institute, MicroMentor developed on the premise that emerging business owners need in-depth, industry specific business assistance. Moreover, the research confirmed the value of one-on-one technical assistance and the need for more efficient and lower-cost delivery of that industry expertise. Mentors and protégés “meet” online at www.MicroMentor.org, and can continue their relationship over e-mail communication or on the phone.
Matches are driven by the mentor, who searches the MicroMentor database to find a protégé that would benefit from their skill set. After sending a blind Match Request, the protégé reviews the mentor’s online profile and can accept or decline the invitation. E-mail addresses are exchanged only after both the mentor and protégé have both accepted the Match Request.
“I respect the mission of MicroMentor,” Hughes said, “and encourage all NASE members to explore MicroMentor as a way to seek advice on their growing business, or to offer their years of expertise as a mentor to a beginning entrepreneur.”
Find out more about MicroMentor, or sign up to be a mentor or protégé at www.MicroMentor.org.
As April 15th Arrives: How to File a Tax Extension
The NASE understands that filing taxes is no easy task for micro-business owners. Luckily, filing for the automatic four-month extension is not too difficult. Keep in mind, if you owe money, filing an extension does not mean that you are extending when payment is due. Interest will be charged if you do not include an estimated amount by April 15, 2005.
The IRS has a toll-free number for extensions (1-888-796-1074) for those who filed a tax return for 2002. It is available weekdays from 8:30 a.m. to 4:30 p.m. local time. You will need Form 4868 for information on tax estimates. Taxpayers may also e-file an extension request using tax preparation software on their own computer or by going to a tax preparer.
For more information on filing an extension or to download Form 4868, visit www.irs.gov/newsroom/article/0,,id=122535,00.html.
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Member Survey: Uninsured in America – What’s Your Opinion?
Take the online member survey on health insurance and the uninsured. Let the NASE know your opinions by visiting the MyNASE Web site at http://my.nase.org/. Log in to your free MyNASE Web Account. If you have not set up an account, you can do so at http://my.nase.org/ with your member number. Let your voice be heard in the association by taking this survey during the month of April.
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