In our present knowledge-based economy, small business owners have a tradition of creating innovative products and good jobs and opening new sectors of the American marketplace. “Invent” or “die” is the motto under which small innovative high-tech businesses operate. The most precious asset for such business owners is the newly minted intellectual property that launched their business.
So, now that we are well into the first quarter, how can taxpayers take advantage of some of these opportunities? The following is a short list of ideas to consider, depending on individual circumstances.
It’s been in the air for much of the past year, and as many of the some-feared and some-promised changes have happened around us, those health care business owners who rely on insurance reimbursement wait with bated breath for a sign of what’s to come. The Trump Administration has promised, via stump speech and now executive order, the rapid repeal and replacement of the Affordable Care Act (Obamacare), but what is simple to say is often far more difficult to accomplish.
For this first time in the history of Nevada, possession of small amounts of marijuana is now legal. But, before rushing out to make your historic purchase, understand that the only people who can legally obtain marijuana in Nevada are those with a current medical marijuana card.
When President Donald Trump signed executive orders this past week moving the United States away from the North American Free Trade Agreement (NAFTA) and the Trans Pacific Partnership (TPP), many people in Southern Nevada were left wondering how this would affect our local economy. Later in the week, the President of Mexico, Enrique Peña Nieto, cancelled a planned meeting with President Trump as disagreements mounted.
The Nevada Division of Insurance deliberated on the issue of chiropractic billing Jan. 18 at a public meeting.
While there is little that can be done to decrease the black-market value of medical records, much can be done about the vulnerability of health care businesses and institutions. Just like a jewelry store is likely to have better security than a t-shirt shop, so should health care data be protected with greater intensity than bulk e-mail or credit card information. Many are turning to cloud-based solutions because of the increased protection and redundancy it offers.
On Dec. 7, Congress overwhelmingly approved the 21st Century Cures Act, through a bipartisan effort, which has already secured the support of President Barack Obama. He is expected to sign it by the end of this year. According to the White House, the act promises to “allow for money to be pumped into biomedical research and speed the approval of new drugs and medical devices … (and) includes provisions to improve mental health care and combat opioid abuse.” This new law is not expected to be included in the anticipated Obamacare repeal.
Nevada Gov. Brian Sandoval has termed it “the new Nevada,” and in the last decade, many things have happened for the Silver State, creating an enviable economic trajectory by any standard.
With the election of Donald Trump as our next president, American companies are destined to face a major shakeup in their corporate governance. Mr. Trump’s campaign promise of reducing the U.S. taxes that corporations are required to pay to 15 percent from 35 percent and granting a tax break to repatriate the trillions of dollars of profit earned from overseas sales and housed in kinder jurisdictions to avoid U.S. taxes, seem to be preordained. This is an opportunity for U.S. corporations to modify their corporate governance to meet changing demands for their success and for the good of the country in which they are incorporated and do business.