Obama announces paid-for vacations for small business owners
Feb 3, 2010
Imagine this – you work hard at your business. You’ve put in all kinds of hours and it has been a grind the past year. Wouldn’t it be nice to take a vacation? Well, if you read between the lines, President Obama’s State of the Union address proposed giving small business owners an all expense paid vacation some time during the year 2010. You may say, that is crazy. Why would he do that? Well, here is how….
- The $33 billion hiring tax credit proposal would offer small business owners a $5,000 tax credit for each new employee hired.
- You could hire this new employee to work for you while you work on other projects – and importantly take some time off.
- If you need to get some of the $5,000 credit cash in your accounts now to hire this person, you could get get some short term working capital in place very quickly, counting on the credit in the future.
While it is true, this may not have been precisely the intent of the President’s proposal was meant for, let’s face it – when you are burnt out from working too hard, your productivity is much lower than after a nice relaxing vacation.
