If you're a business owner in the United States, you will always have a partner, even if you are a single entity, one person. The partnership is the government.
Since the creation of the United States government has shaped the country's economy through the laid down rules and regulations for doing business. Experts at BidSync knows all about these provisions. They help companies secure contracts to provide goods and services for government, public entities, and other legal agencies. They must be fully respected if they are to compete for business with the government.
Read details on some of the latest changes and regulations that are currently in the pipeline, which can affect how you do business in 201 6.
Minimum wage change
There has been a lot of debate on the minimum wage in recent years. This is in large part due to the fact that the US wage growth is basically stagnant. US Federal Reserve confirmed that wage growth of 3.5% is healthy, but we got very close to that in the past six years was 2.5 percent in November from a year earlier.
Now, the US minimum wage is 7.25 $ per hour. However, the state and city can set a higher minimum wage if they choose. In discussions raise the minimum wage rose as high as $ 15 per hour over the next few years. California and Washington are leading the charge. A higher minimum wage before they affect the actual cost for many businesses operating. But it will increase the cost, which can get a lot of benefits such as a company only.
... Taxes, especially sales tax online
Taxes are nothing new. As Benjamin Franklin said, "the only two certain things in life: death and taxes. 'But that was not the case on the Internet this - at least not until now. Right now, 45 states have existing laws that control the collection of sales tax for online purchases, and 24 approved the sale and use agreement facilitating tax (SSUTA) already.
Market regarding fairness will allow states in SSUTA requires the collection of sales tax from online sellers and help the state to enforce its own laws. All vendors who do not qualify for exempt small sales tax will be collected on all online purchases and send them to the appropriate jurisdiction. Since there are thousands of people who have jurisdiction, the tax consequences of remitting is the one thing that held fair market rules, which currently sits on the Senate's list of dos.
Employers providing health
Health care reform has been approved in 201 0, but, like any smart government, entity parliament decided that since it was established changed dramatically. On January 1 4 201 businesses with more than 50 full-time employees of any official to provide employees with health insurance. Quite honestly, most employers want to be able to provide their employees with health insurance. It's the right thing to do, and it helps your employees stay healthy, which is good for your business. But it created a major change in the business that was not offering health care coverage already.
(Shop) market, small business health options program launched at the end of the year 4 201 to help small businesses with 50 full-time employees or less. But in some 6 201 businesses in the state could employ up to 100 and still participate. There is less than 25 or less full-time staff? Then you may qualify for tax credits, small business, health care, currently covers up to 50% of the cost of insurance.
For small businesses, most of the changes to health care benefits since we are free from the mandate to plan initiatives and enjoy considerable tax credit.
Interest rates and inflation
Many small businesses rely on loans to enable the company and its expansion. In recent years, we have enjoyed low-interest rates while the Federal Reserve has worked its magic to boost the economy. But now that things are starting to stabilize, we can expect interest rates to inch over the coming years. One misstep by the central bank and inflation could become a problem along with the stock market, which has struggled.
These are just some of the ways that the government is not silent partners in our business. Red tape and the cost can be harrowing at times, but it has a lot to do to help our small business competitiveness and growth. This is a small business is at least one thing they got right.