10 Things You Should Know About The Fiscal Cliff Deal

via forbes.com

Here is what you need to know as the dust settles on the Congressional tax bill.

Posted via email from Create | Inspire - DM2 Studios

10 Things You Should Know About The Fiscal Cliff Deal

via forbes.com

Here is what you need to know as the dust settles on the Congressional tax bill.

Posted via email from Create | Inspire - DM2 Studios

Problems With The Pending Fiscal Cliff Deal

via forbes.com

Make no mistake; the timing of the fiscal cliff was no accident. The confluence of spending cuts and tax increases scheduled to take effect on January 1, 2013 was by design, carefully planned in an effort to force the government to address its rampant spending and borrowing.

Believe it or not, our government’s ability to borrow does have limits. When we last maxed out the ol’ credit card in August 2011, it caused a bit of a scramble, and Congress dealt with the problem as only this current Congress would: by increasing the limit and instructing a bipartisan super-committee to find a way to trim our deficit by $1.5 trillion over the next decade to reduce our reliance on borrowing. In the event the super-committee could not reach a resolution by November 2011, required spending cuts would take effect on January 1, 2013 to protect us from ourselves. The super-committee failed, resulting in the panicked debate that consumed Congress and dominated headlines for the past six weeks.

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Get Ready to Go Over the Cliff

via inc.com

The thought of planning to go over a cliff may seem incomprehensible, but in a situation where you know it might happen--like you are now--you should put a plan in place.

While Washington has shown signs of inching toward a deal that would avoid the so-called fiscal cliff, that could easily fall apart. Especially considering House Speaker John A. Boehner (R-Ohio) unexpectedly canceled a vote on his own proposal yesterday.

So what do you do as a small business owner to prepare? Think of it the way you do costs versus revenue. It's obviously easier to control your expenditure than it is to spur revenue growth. A similar issue exists with the fiscal cliff. You can't control it, so focus on what you can control.

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Inside Obama's Meeting with Entrepreneurs on the Fiscal Cliff

via inc.com

When entrepreneur and Inc. 30 Under 30 alum Nikhil Arora received an email from the White House last Thursday to attend a small business meeting, he didn’t know exactly what to expect or even who from the Obama administration would be present.

He said it was only “one or two days” before the now highly publicized meeting took place Tuesday that he found out President Obama himself would lead a conversation on how to avoid the impending fiscal cliff with a group of 15 entrepreneurs.

“I didn’t expect that level of engagement from the administration,” said the co-founder of Back to the Roots, a company that makes mushroom growing kits from recycled coffee grounds. “This was not a presentation, it was an active back-and-forth discussion.”

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