In this episode of the Small Business Rundown, Beth Milito, Executive Director of the NFIB Small Business Legal Center, goes over how to determine whether your small business’ workers are considered employees or independent contractors by the IRS. This seemingly simple distinction is actually extremely complex—and can cost small business owners who misclassify thousands of dollars in penalties. Beth covers the difference between independent contractors and employees, the different tests used to determine classification, and common exceptions.

The Small Business Legal Center also offers a printable Independent Contractor guide which can be downloaded here: https://strgnfibcom.blob.core.windows.net/nfibcom/Guide-to-Independent-Contractors-2022.pdf

On this week’s episode of the Small Business Rundown, NFIB member David Henrich joins expert NFIB staff to discuss the Regulatory Flexibility Act (RFA). They talk about how federal agencies often fail to abide by it and what it means for small businesses. The RFA is meant to address the disproportionate impact of federal regulations on small businesses by requiring the agencies to consider, and take into account, the needs and resources of small business when making procedures. They discuss the timeline of the RFA since it went into effect in 1981, why lack of compliance leads to one-size-fits-all regulations, and how these regulations hurt small businesses on a daily basis.

On this week’s episode of the Small Business Rundown, host Adam Temple was joined by NFIB’s Chief Economist Bill Dunkelberg and NFIB Research Center Executive Director Holly Wade for a conversation about the U.S. debt limit. They explain the debt ceiling, the difference between debt and deficit, debt cliffs, what it means for the U.S. debt to be higher than the limit, and what the Small Business Optimism Index shows owners expect in the next six months.

For the latest Small Business Economic Trends report, you can visit NFIB.com/SBET. Learn more about the U.S. debt, how long until the U.S. hits the debt cliff, and what that means in NFIB’s debt limit fact sheet: https://strgnfibcom.blob.core.windows.net/nfibcom/The-U.S.-Debt-and-Debt-Limit-Explained.pdf.

This episode of the Small Business Rundown features U.S. House Majority Leader Steve Scalise and NFIB member Lucas Gjovig discussing energy legislation. Under Scalise’s leadership, the Lower Energy Costs Act, or H.R. 1, was introduced earlier this year and he provides a detailed look at the legislation’s benefits. Lucas Gjovig is a small business owner who works in the energy production industry and explains how H.R. 1 will help small businesses, gives his perspective on the permitting process, and explains how it impacts small businesses. Gjovig also describes his experience testifying before the U.S. House Subcommittee on Rural Development, Energy, and Supply Chains and why it’s crucial for small business owners to engage with their U.S. Senators and Representatives.

Hear from NFIB President Brad Close about Internal Revenue Service (IRS) plans for expanded enforcement, and The Family and Small Business Taxpayer Protection Act currently with the U.S. Senate. The IRS recently released a plan for how they’ll spend the $80 billion added to their budget, but they left many questions unanswered. Small businesses owner Warren Hudak also joined host Adam Temple to discuss his experience dealing with the IRS. Small businesses are the low-hanging fruit when the IRS hires more staff and increases its enforcement activities. That’s why legislation in Congress that seeks to direct the IRS to prioritize serving taxpayers rather than overwhelmingly focusing on expanded enforcement is crucial for small businesses.

In this episode of the Small Business Rundown, Holly Wade, Executive Director of the NFIB Research Center, explains the results of NFIB’s new Small Business Health Insurance Survey. Ever-rising health insurance costs are a significant burden for America’s small businesses, and the data reveals that small businesses are facing a substantial affordability crisis in providing health insurance for their employees. The episode also features an interview with NFIB Member Kelly Moore of Ohio, who answers questions about how her small business has struggled with health insurance costs in a conversation with NFIB Government Relations Manager Josselin Castillo.

The Research Center’s Small Business Health Insurance Survey can be read here: https://www.nfib.com/content/press-release/healthcare/new-nfib-survey-health-insurance-costs-remain-a-significant-challenge-for-small-businesses/

You can learn more about how to get involved in NFIB’s healthcare advocacy efforts at: www.nfib.com/healthcare

And tell us about your small business’ experiences with health insurance costs here: https://www.votervoice.net/NFIB/Surveys/3586/Respond

If you enjoy this podcast, please subscribe and share. Also, check out the NFIB California podcast!

In this episode of the Small Business Rundown, hear small business owners Wylie McDade and Tina Miller’s Congressional testimonies on the state of small business economy and the benefits of the Small Business Deduction – a federal tax deduction that allows small businesses organized as pass-through entities like Sole Proprietorships, S-Corporations, Partnerships, and LLCs, to deduct up to 20% of their qualified business income. Next, U.S. Representative John Duarte speaks about the importance of making the Small Business Deduction permanent and NFIB’s Director of Government Relations, Courtney Titus Brooks, joins host Adam Temple to explain how small business owners use the deduction and where it stands in Congress.

For more information on the small business deduction ad campaign click here to read an article and watch the ad.

If you enjoy this podcast, please subscribe and share. Also, check out the NFIB California podcast!

In this episode of the Small Business Rundown, NFIB’s Senior Vice President of Advocacy Adam Temple interviews Beth Milito, Executive Director of the NFIB Small Business Legal Center, about the Fair Labor Standards Act (FLSA) and its impact on small business owners. Beth goes in-depth on various aspects of FLSA compliance, such as:

Distinguishing between employees and independent contractors
Minimum wage
Tipped employees
Overtime pay guidelines
Child labor rules
Record keeping and notice posting

Milito provides useful information on these topics and warns listeners of the penalties for non-compliance.

The Small Business Legal Center also offers a printable Wage and Hour Guide on this topic, which can be read here.

NFIB members can also receive a free federal labor law poster that includes the FLSA requirements by calling (800) 552-NFIB or emailing info@NFIB.org.

If you enjoy this podcast, please subscribe and share. Also, check out the NFIB California podcast!

U.S. Representative John Duarte (CA-13), a small business owner and NFIB member, joins Small Business Rundown host Adam Temple to discuss how his small business experienced unfair treatment from the federal government on Waters of the United States (WOTUS) regulation enforcement.

Rep. Duarte explains how he was ordered to stop farming his own land and sued by the federal government for millions of dollars – even though there was no evidence that he damaged a single wetland on his property. Rep. Duarte also describes efforts in Congress to rein in overreaching WOTUS regulation, and how business owners can make their voices heard on this important issue.

Executive Director of the NFIB Small Business Legal Center Beth Milito also joins to discuss the WOTUS legal battle currently at the U.S. Supreme Court.

For more information on WOTUS and how it affects small businesses, see NFIB’s fact sheet here.

If you enjoy this podcast, please subscribe and share. Also, check out the NFIB California podcast!

Host Adam Temple is joined by Beth Milito, executive director of the NFIB Small Business Legal Center, and Holly Wade, executive director of the NFIB Research Center. Holly and Beth discuss keys to set your small business on a path for success this year – steps based in part on the findings of monthly research into small business economic trends and the thousands of questions these experts have answered during webinars on topics like taxes, regulations, compliance, and COVID-19 recovery assistance for small businesses. Holly and Beth touch on steps from marketing and employee retention in a tough labor market to financial and operational best practices to tools like the Employee Retention Tax Credit.

Related resources:

For a deeper dive on this topic, watch their “Seven Essential New Year’s Resolutions for Small Business” free webinar, here.
NFIB’s free ERTC tips and on-demand webinar “Expert CPA Tips for 2023” can be viewed here.
NFIB’s free on-demand webinar “What’s Your Digital Marketing Success Plan?” can be viewed here.
NFIB’s free legal guide series, including NFIB’s Small Business Model Employee Handbook, can be downloaded here.

If you enjoy this podcast, please subscribe and share. Also, check out the NFIB California podcast!