(Associated Press)

“As I said, we’ve actually cut taxes for small business 16 times since I’ve been in office. So taxes for small businesses are lower now than they were when I came into office.”

–President Obama, Town Hall with LinkedIn, Sept. 26, 2011

We’ve been meaning to look into the administration’s claim that the president has cut small business taxes “16 times,” and now the president’s appearance in Silicon Valley has given us an opportunity. (The White House also has claimed as many as 17 small business tax cuts, including a tax cut in a bill signed at the end of 2010.)

The president, in fact, went even further this week and asserted: “Taxes for small businesses are lower now than they were when I came into office.” That’s a big claim. How true is this?

The Facts & The Pinocchio Test: President Obama’s claim of lower small business taxes – The Fact Checker – The Washington Post

Technorati Tags: glenn kessler, obama, small business, taxes, the fact checker, the washington post, national federation of independent business, the pinocchio test,

September 02, 2011

U.S. employment growth ground to a halt in August as sagging consumer confidence discouraged already skittish U.S. businesses from hiring, keeping pressure on the Federal Reserve to provide more monetary stimulus to aid the economy.

Nonfarm payrolls were unchanged, the Labor Department said on Friday, the weakest reading since September. Nonfarm employment for June and July was revised to show 58,000 fewer jobs.

Despite the lack of employment growth, the jobless rate held steady at 9.1%. The unemployment rate is derived from a separate survey of households, which showed an increase in employment and a tick up in the labor force participation rate.

While the report underscored the frail state of the economy, the hiring slowdown probably will not be seen as a recession signal as layoffs are not rising that much.

Read more at foxbusiness.com

Technorati Tags: employment growth, unemployment, consumer confidence, federal reserve, economy, labor department, nonfarm employment, jobless rate,

Top Article of the Week from NFIB.com:

Setting up a business structure is one of the first things small businesses owners need to think about when starting up a business. There are several options to choose from, like a sole proprietorship, partnership, limited liability company, or a corporation. You need to select the business structure that is attainable with your current resources and will best meet your objectives. Not every structure will be right for you, and each has its own strengths and weaknesses, as well as tax implications. To help you make your decision, here are some basic facts about five major types of business structure, their systems of ownership and their tax implications.

Read article: Setting up a Business Structure — Tax Considerations | NFIB

Posted by Renee Oricchio @oricchio at 2:00 PM

By now you’ve likely heard that Steve Jobs has resigned as CEO of Apple and plans to continue as chairmen of the board. COO, Tim Cook, who has filled in for Jobs in recent years during his various medical leaves while he first battled pancreatic cancer and then recovered from a liver transplant, will step in as CEO.

There is much to be analyzed and reported on regarding this announcement. Every newspaper, blog and tech news outlet in the world is weighing in right now with their take on what this means for Apple, the tech industry itself, Steve Jobs and his legacy.

In today’s world of 2011, we tend to focus on only Steve Jobs, the CEO. The CEO of one of the largest companies in the world (tech or otherwise, keep in mind Apple just surpassed Exxon). It’s easy to forget he was once one of you, the audience we target– the entrepreneur, the small business owner, the self-employed maverick going your own way.

MBA students will be studying Jobs the CEO for generations to come. But you and people like you, dear reader, will likly bump into Steve Jobs the entrepreneur for inspiration and wisdom for many years to come, as well.

I thought this would be a good time to share some of his best quotes from over the years; specifically sage wisdom for you, the David who dreams of one day being the Goliath.

Apply these words from the 90′s to this economy

“The cure for Apple is not cost-cutting. The cure for Apple is to innovate its way out of its current predicament.”

On you and the other guys

On selling your startup

On attitude

On resting on your laurels

On humility

On how innovation really happens

On quality

On designing products

On pride in your work

Should you rethink focus groups?

On creativity

The Tao of Steve

Read what Steve says about these: Steve Jobs: Parting Quotes For Today’s Entrepreneurs | Inc.com

Technorati Tags: Steve jobs, entrepreneurs, apple, startup, start-up, attitude, resting on your laurels, humility, innovation, quality, designing products, pride in your work, focus groups, creativity, tao of steve,

Small Business Trends, Startup Trends January 14, 2008 By Scott Shane

Most entrepreneurs believe a bunch of myths about financing new companies that hinder their efforts to raise money. Here are a few:

Myth 5: Banks don’t lend money to start-ups.

Don’t believe the myths, know the reality…Five Myths about Financing Start-ups that Hurt Entrepreneurs

By BusinessNewsDaily Staff  13 AUG 2011

Looking to start a new business but short on ideas? Here’s a roundup of some of the great business ideas we’ve researched so far this year. Click on the individual titles to learn more about the business idea and get advice from experts who know about each industry.

Business Opportunity: Resale retail

The recent recession taught Americans a lot of lessons, including how to cut back on their spending. That cost-cutting led to a rise in the popularity of resale shops for those on the hunt for everything from clothes and house wares to sporting goods and antiques — a trend that remains even as the economy starts to improve.

Read more detail: 12 Great Business Ideas | Business Ideas | Ideas for Starting a Business | Business News Daily

Technorati Tags: small business, ideas, business opportunity, career coach, social media, job seekers, social media, consultant, facebook, linkedin, twitter, social networking, business world, memory organizer, memories, albums, digital cameras, flash drives, computers, online photo-sharing services, home movies, holdmymemories.com, invasive species pest management, exterminators, stink bug, long-horned beetle, pest management specialist, bugs, Pennsylvania, homeowners, tablet app development, ipad, consumers, Motorola, Samsung, tablet craze, Corning, tablet computer, tablet apps, Gigaom, software, online video production, television ads, internet, viral video, brightcove, brand managers, online video, business websites, marketing products and services, telecommunications specialists, film school majors, creative talents, specialty foods provider, americans, dietary restrictions, dietary needs, specialty foods industry, gluten-free, organic, low sodium, lactose-free, National Association for the Specialty Food Trade, retail food sales, manufacturers, online privacy management, Sony Playstation, online security breaches, sensitive customer information, online records, high-profile, hackers, computer programmers, security experts, pr socially responsible businesses, for-profit, socially conscious, Penn Schoen Berland, businesses social endeavors, public relations consultants, socially responsible businesses, personal concierge, services, international concierge, personal concierge services, international concierge and lifestyle management association, low-cost startup, baby boomers, senior citizens, senior citizen population, advanced medical care, companionship, Home Instead, senior care franchise, resale retail, recession, cost-cutting, resale shops, national association of resale professionals, america’s research group, thrift store, department stores,

After closing out the worst week since 2008, Wall Street was once again pummeled on Monday after global sovereign debt and economic fears sent traders fleeing equities with few shelters in sight.

Today’s Markets

The Dow Jones Industrial Average plunged 635 points, or 5.6%, to 10,810, the S&P 500 tumbled 79.9 points, or 6.7%, to 1,119 and the Nasdaq Composite dipped 174.7 points, or 6.9%, to 2,358.

The sell-off was broad, with every major sector taking deep losses. In a sign of the depth of the selling, 98% of the volume on the New York Stock exchange was in declining shares. The Dow closed below 11,000 for the first time since October 2010, and every blue chip ended in the red.

Despite the steep retreat from equities, some market participants were optimistic that markets are in the process of bottoming out.

A round of disappointing economic data, capped with a mixed monthly employment report has weighed heavily on sentiment in recent weeks. There are only a handful of data releases scheduled for the first half of the week, however, traders are expected to pay close attention to the Federal Reserve’s statement on Tuesday to see if the central bank signals another round of quantitative easing.

Market participants will also be watching a slew of economic data slated for release by China overnight, according to Peter Boockvar, managing director at Miller Tabak+Co. China is one of the world’s largest economies and can have a drastic impact on global markets.

Global Governments Act

Meanwhile, global governments acted on Sunday to try to stem market fears across the world. The European Central Bank said it was prepared to “actively implement” a program by which it would purchase Italian and Spanish debt. European credit markets have been rattled as debt worries have cascaded from smaller economies like Greece to more substantial ones like Italy.

The Group of 7 finance ministers also made a statement late Sunday, saying it was prepared to take whatever steps are necessary to calm global markets that were slammed last week.

Still, many market participants questioned what actions global governments would be able to take to tame tumultuous markets. The statement by G7 “sought to bolster confidence but offered only consoling words,” analysts at Barclays Capital wrote in a note to clients.

The sell-off on Monday comes on the heels of the steepest retreat for Wall Street since the financial crisis in 2008. The broad S&P 500 plunged 7.2%, the Dow shed 5.8%, and the Nasdaq plunged 8.1%.

Read entire article: Deja Vu: Dow Crumbles 635 After Economic, Debt Fears Engulf Wall Street – FoxBusiness.com

Related Stories
S&P: U.S. Faces Further Downgrade Beyond AA+
Treasury Hits Back Against S&P Downgrade
The S&P Downgrade Is a Wake Up Call for All Americans
Asian Stock Markets Sink After U.S. Credit Downgrade

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states, least, interactive data, conditions, terms conditions

After closing out the worst week since 2008, Wall Street was once again pummeled on Monday after global sovereign debt and economic fears sent traders fleeing equities with few shelters in sight.

Today’s Markets

The Dow Jones Industrial Average plunged 635 points, or 5.6%, to 10,810, the S&P 500 tumbled 79.9 points, or 6.7%, to 1,119 and the Nasdaq Composite dipped 174.7 points, or 6.9%, to 2,358.

The sell-off was broad, with every major sector taking deep losses. In a sign of the depth of the selling, 98% of the volume on the New York Stock exchange was in declining shares. The Dow closed below 11,000 for the first time since October 2010, and every blue chip ended in the red.

Despite the steep retreat from equities, some market participants were optimistic that markets are in the process of bottoming out.

A round of disappointing economic data, capped with a mixed monthly employment report has weighed heavily on sentiment in recent weeks. There are only a handful of data releases scheduled for the first half of the week, however, traders are expected to pay close attention to the Federal Reserve’s statement on Tuesday to see if the central bank signals another round of quantitative easing.

Market participants will also be watching a slew of economic data slated for release by China overnight, according to Peter Boockvar, managing director at Miller Tabak+Co. China is one of the world’s largest economies and can have a drastic impact on global markets.

Global Governments Act

Meanwhile, global governments acted on Sunday to try to stem market fears across the world. The European Central Bank said it was prepared to “actively implement” a program by which it would purchase Italian and Spanish debt. European credit markets have been rattled as debt worries have cascaded from smaller economies like Greece to more substantial ones like Italy.

The Group of 7 finance ministers also made a statement late Sunday, saying it was prepared to take whatever steps are necessary to calm global markets that were slammed last week.

Still, many market participants questioned what actions global governments would be able to take to tame tumultuous markets. The statement by G7 “sought to bolster confidence but offered only consoling words,” analysts at Barclays Capital wrote in a note to clients.

The sell-off on Monday comes on the heels of the steepest retreat for Wall Street since the financial crisis in 2008. The broad S&P 500 plunged 7.2%, the Dow shed 5.8%, and the Nasdaq plunged 8.1%.

Read entire article: Deja Vu: Dow Crumbles 635 After Economic, Debt Fears Engulf Wall Street – FoxBusiness.com

Related Stories
S&P: U.S. Faces Further Downgrade Beyond AA+
Treasury Hits Back Against S&P Downgrade
The S&P Downgrade Is a Wake Up Call for All Americans
Asian Stock Markets Sink After U.S. Credit Downgrade

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time, company, crisis, than, flag expand, corp, simpson, worst, since 2008, monday after, sovereign, sovereign debt, traders, equities, august, treasury, treasury hits, back, hits back, back against, against downgrade, gasparino investors, betting, investors betting, bofa, betting bofa, bofa needs, taken, grasso taken, aback, taken aback, aback political, spin, political spin, spin downgrade, over, also, fitch, review, their, italy, stop, worse, djia, djia nasdaq, spending, after closing, closing worst, worst week, week since, 2008 wall, once, street once, again, once again, pummeled, again pummeled, pummeled monday, after global, global sovereign, debt economic, economic fears, sent, fears sent, sent traders, fleeing, traders fleeing, fleeing equities, equities with, shelters, with shelters, sight, shelters sight, facebook, twitter, facebook twitter, bank america, selloff, first, just, they, your, prices, exchange, home, world, been, congress, into, disqus, like flag, minute, 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alt=, border= alt=, latino business, interactive, news latino, small business, center, please, 2010, leaders, mutual, technology, personal finance, email, increase, today, jones, believe, recent, trading, fact, almost, according, deep, losses, selling, financial, concerns, need, participants, market participants, while, close, friday, said, american, still, however, could, assets, provide, economic data, report, there, governments, global governments, have been, made, steepest, wholesale, other, view, powered, this page, kids, lost, work, know, this country, like person, person liked, explain, raising, explain raising, raising taxes, taxes will, look, corporation, google, microsoft, correction, terms, html, text html, prices central, bank nyse, nyse spanish, debt business, business nyse, nyse auto, sales mortgage, companies federal, reserve stock, exchange york, exchange freddie, freddie consumer, spending wall, street berkshire, hathaway nyse, sight after, adam, street adam, samson, 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