SBA Elevated to Cabinet | Get Ready for Reporting Season: Filing W-2s, 1099 Forms, and More

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Small Business Administration sent this bulletin at 01/19/2012 10:52 AM EST

 

SBA Administrator Elevated to the President’s Cabinet New Plan to Make Government Work Better for Entrepreneurs and Small Business Owners   Friday, January 13 was an important day for America’s small businesses.  President Obama asked Congress for the authority to reorganize and modernize government and he elevated Karen Mills‘ position as the SBA Administrator to Cabinet-level status. These actions are a reflection of the importance he places on small business, economic growth, and job creation.   > Read more Get Ready for Reporting Season – How to File W-2s, 1099 Forms, and More Did your small business hire employees for the first time in 2011? Did you use the services of an independent contractor? Or do you simply need a refresher on the ins and outs of wage reporting season? Here’s what you need to know about your annual employer reporting obligations.   > Read more Got Competition? 6 Tips for Dealing with a New Competitor on the Block Has someone opened up a competing business in your town? Are you worried that your business may be at risk? Not sure how to react to the new competition? Here are some tips for dealing with competitors and, quite possibly, collaborating with them!   > Read more    General Business Liability Insurance – How it Works and What Coverage is Right for You If you’ve heard it once, you’ve heard it a thousand times: if you’re starting a business, you’re going to need general liability insurance. But what does that mean? How do you determine your coverage needs? Here are a few answers about liability insurance to help guide you through the process.   > Read more    Sorting Out Confusion About Tax Information Returns Information returns are tax-reporting forms required to be submitted to the IRS. In turn, the IRS uses the information to cross-check reporting by taxpayers. According to the IRS, information returns greatly increase the compliance rate. Here’s what you need to know so you can get things right on your 2011 tax return.   > Read more    SAVE THE DATE! National Small Business Week 2012  National Small Business Week 2012 is May 20-26, 2012.   SBA will host a conference in Washington, D.C. to honor outstanding small businesses and host panel discussions on a variety of topics. You can follow along on our website or via hashtag #SBW2012. Registration for the event will open in February.

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Small Business Taxpayer Recovery Program Information

Beverly Eaves Perdue  

Governor               

State of North Carolina

Office of the Governor

20301 Mail Service Center • Raleigh, NC 27699-0301 

Nov. 30, 2011

Contact: Chris Mackey

Office: (919) 733-5612         

Recovery Program Now Helping More than 1,000 Small Businesses

RALEIGH –  The Small Business Taxpayer Recovery Program launched by the NC Department of Revenue and the N.C. Small Business Commissioners Office in July is now helping more than 1,000 small businesses get back on their feet after facing financial hardships during the economic downturn.

“Our top priority is creating and sustaining jobs in North Carolina, and we all know that small businesses are the primary engine of job growth,” Gov. Bev Perdue said. “More than 1,000 small businesses are now able to keep their doors open and their employees working. These are the types of programs that ease regulatory burdens and make doing business with state government more efficient.”

The program offers penalty and fee waivers, as well as longer-term payment plans to companies that have fallen behind on sales, withholding and other trust taxes. With a total cost savings of almost $6.8 million in fees and penalties, 1009 businesses are now participating in the program. 

“Companies from the mountains to the coast are benefiting from the state’s help during these tough economic times,” said Secretary of Revenue David Hoyle.  “We have everything from restaurants, automotive centers, and healthcare services to landscaping and building companies that are using this program to get back on their feet.”

Businesses with 200 or fewer employees qualify for the program and must agree to use the counseling services of the Small Business and Technology Development Center (SBTDC) or the NC Small Business Center Network (SBCN).  Both organizations are available to assist with financial planning and other business needs.   All services are confidential and protected from public information requests. 

The program runs through June 2013.

Interested business owners should contact the department at 1-877-252-3052 and visit the “Information for Businesses” section of www.dornc.com to learn more about eligibility and participation.

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Mark Johnson

Deputy Communications Director

Office of the Governor

1 East Edenton Street

Raleigh, NC 27601

919-733-5612

919-520-0311 cell

Agricultural Entrepreneur Course Offering….

Check out our next offering for farmers and aspiring farmers….REAL Ag Entrepreneur course. 

The information  will help you understand farming as a business.  Course starts January 5th, 2012 lasting for eight weeks.  Call Cathy Wheeler at 336-342-4261 Ext 2316 or email her at wheelercc@rockinghamcc.edu to register.

Next “How to Start/Stay in Business” class announced

The next “How to Start/Stay in Business” class will begin January 23, 2012 and last ten weeks.  If you’re interested in starting a business or want to learn more about how to be more successful with your existing business, sign up today! Check out the training page to find out more.

Call Cathy Wheeler at 336-342-4261 Ext. 2316 or email her at wheelercc@rockinghamcc.edu with questions or to register.