“Even with sustained economic improvement, there’s a lot of uncertainty among small business owners when it comes to the country’s regulatory environment,” said
Following are the top five election-year issues:
1.The Affordable Care Act. The health care reform law
continues to be a source of controversy, as well as an ongoing target
for opponents of the law. Regardless of its legal challenges, there are
components of the law and important requirements that business owners
need to prepare for now. These include Employer Shared Responsibility
(ESR) provisions, ESR reporting requirements, the 90-day waiting period
limitation, use of the orientation period within the 90-day waiting
period, renewal of non-compliant plans, health insurance marketplaces,
and the small business tax credit.
2.Immigration Reform. Following President Obama’s recent
expression of frustration over congressional inaction on this topic,
it’s widely speculated that the President will use executive authority
to address aspects of the Immigration Reform debate, potentially
expanding amnesty through the Deferred Action for Childhood Arrivals
(DACA) program and employing the use of prosecutorial discretion, which
allows the government to prioritize which court cases it pursues.
3.Employment Regulations. Among the most closely watched
issues by business owners are changes to the rules and regulations that
employers must comply with while running their business. Of these
4.Privacy and Data Security. Comprehensive privacy and
data security protection is a global priority as
5.Retirement. There are several retirement-related issues
small business owners need to be aware of as the election nears;
included among them are debates over fiduciary responsibility, social
security uncertainty, and an overall lack of adequate retirement savings
for many Americans.
To download a Slideshare of the Top Five Small Business Issues of the Election Year, visit http://www.slideshare.net/Paychex/top-5smallbusinessissueselection2014.
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