Business & Finance Debt

Does Entrepreneurship Invite Federal Debt Relief?

One way or another, the federal government will support your entrepreneurship.
If you start your own business, create jobs, and offer new employees health insurance, the federal government will reward you with generous tax credits.
If you launch your own non-profit enterprise, providing valuable service to your community-and especially its youth-you become eligible for a wide array of federal grants.
Generous funding for projects that serve the public interest Yes, the federal government has set aside grant funds for a wide variety of worthy projects-provided they serve the public interest.
Although the media has not generally picked-up the story, the Obama administration clearly supports government investment in public sector enterprises.
A careful analysis of the so-called "economic stimulus package" reveals that the administration clearly wants to promote not-for-profit entrepreneurship.
A visionary with some business experience and dedication to public service could do a great deal of good for himself and his community, winning generous support from the federal government.
Most federal requests for proposals openly encourage local IRS 501(c3) corporations to apply.
If you are the director of a non-profit corporation, your federal grant may pay your salary for several years; and federal grants typically allow employee compensation at prevailing rates in your area.
Tax credits bring debt relief.
More generally, under provisions of legislation proposed by the Obama administration in March, 2010, entrepreneurs who create jobs and provide adequate healthcare for their workers dramatically will reduce their tax bills.
For many small business owners, federal and state taxes ravage their bottom lines, so that reducing their tax liabilities represents tremendous debt relief.
Small businesses with the capacity to hire and train new workers will receive several thousand dollars in tax credit for each job they create.
And they will receive several thousand dollars in additional credits for provision of health insurance to qualified employees.
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