Reservist Tax Credit for Small Business Extended

A business tax credit to help small employers pay the salary differential to reservist employees serving on active duty is now extended through 2010.   The business credit is an incentive for small firms to eliminate any pay gap between civilian and military pay.   U.S. Senate Committee on Small Business and Entrepreneurship Chair Mary L. Landrieu, D-La. co-sponsored the legislation. 

"As our soldiers serve far from home, they often take a cut in pay by switching from civilian to military payroll, leaving families to tighten their belts at an already tough time," Sen. Landrieu said. "This is not right. Our brave soldiers should not be penalized for serving America, nor should the small business owners who want to help their employees but are already suffering in these harsh economic times. With the extension of this important tax credit, our soldiers, their families, and the small businesses they work for will be protected from the fiscal burdens that come with active duty."

Business Owners Work on COBRA Paperwork as Another Extension Approved

Small business owners are bracing for another round of extra paperwork tied to the COBRA subsidy because of another federal extension.   Under the new legislation, employees laid off from March 1, 2010 through Dec. 31, 2010 are eligible for the 65 percent COBRA health care tax credit.

The burden of notifying employees of the extension falls on business owners who must track down former staffers. The newest extension measure is part of the federal budget for fiscal year 2011.

New Small Business Lending Effort for Entrepreneurs: How to Get Involved

A new partnership aims to raise money to help small businesses in need. As part of Intuit's Love a Local Business program, every person who joins the Intuit Lending Team and makes a Kiva loan within 30 days, Intuit will donate $10 to Kiva dot .org, up to fifty thousand dollars. The money will go to strengthen the micro-lending program and leverage an estimated half-million dollars more in small business loans from Kiva's Internet community. The matching program runs through the end of May.  You can learn more at http://www.kiva.org/team/intuit and http://www.lovealocalbusiness.com