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WASHINGTON, D.C. – Congressman Mike Thompson (D-CA) and Congressman Rick Berg (R-ND) joined on Wednesday to introduce the Small Business Tax Simplification Act.
This legislation would allow businesses with up to $10 million in gross receipts to be eligible for a more simplified tax filing method with the Internal Revenue Service.
“Simplifying taxes for small businesses is something that everyone can agree on,” said Thompson. “I am proud to introduce this bipartisan legislation that will save small businesses’ time, paperwork and headaches during tax season. Expanding cash accounting for small businesses will allow them to focus their efforts on what they do best – growing their business – and not on complicated accounting practices.”
“The legislation I am introducing today, known as the Small Business Tax Simplification Act, will simplify the tax code for small businesses across our country,” said Berg. “Instead of being bogged down with complex tax reporting requirements, this bipartisan legislation will allow businesses to use a simplified form of accounting that more closely matches the way a small business owner runs their business. This bill represents a commonsense change that would ease the burden of tax complexity for many small businesses.”
Under current law, small businesses are required to use cash-basis or accrual accounting when filing their taxes with the IRS.
For many small businesses, the cash-basis method can offer more flexibility in tax planning, since cash accounting is a simplified method that more accurately reflects the way a business collects income and claim deductions for investments.
However, only businesses with up to $5 million in gross receipts are currently permitted to use the cash-basis form of accounting.
The Small Business Tax Simplification act would allow businesses with $10 million in gross receipts to utilize this method as well.
According to the most recent National Federation of Independent Business (NFIB) Small Business Problems and Priorities survey, tax complexity remains one of the top five major concerns for businesses. Dan Danner, President and CEO of the NFIB offered his support of the legislation.
“This expansion of the availability of cash accounting for tax purposes will help simplify tax filing and reduce the paperwork burden for many small businesses,” said Danner. “NFIB and its members would like to thank Congressman Berg and Congressman Thompson for this common-sense approach to helping job creators operate as efficiently as possible during this time of economic recovery. It will certainly help make it easier for many small businesses to grow and create jobs.”
Congressman Mike Thompson represents California’s 1st Congressional District, which includes the Counties of Del Norte, Humboldt, Lake, Mendocino, Sonoma, Napa, and Yolo. He is a senior member of the House Ways and Means Committee and the House Permanent Select Committee on Intelligence. Rep. Thompson is also a member of the fiscally conservative Blue Dog Coalition and sits on the bipartisan, bicameral Congressional Wine Caucus.
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SAN FRANCISCO, Calif. – Pacific Gas and Electric Company (PG&E) said Tuesday that it has asked state regulators for permission to offer a new clean energy program that will give electric customers an opportunity to support 100 percent renewable energy for an average of a few dollars a month.
PG&E is proposing the “Green Option” in response to requests from customers, elected officials and the environmental community for more ways to promote renewable energy.
“On behalf of our customers, PG&E is already one of the largest suppliers of renewable energy in the country,” said Helen Burt, senior vice president and Chief Customer Officer of PG&E. “We have heard from many of our customers, however, who want to do even more to support clean energy and the green economy. Our Green Option, backed by an independent third-party’s environmental certification, will give them that choice.”
PG&E today offers some of the cleanest power in the United States. More than 50 percent of its electricity comes from sources that are renewable or free of greenhouse gas emissions.
Elected leaders from around PG&E’s service territory, including the cities of Berkeley, Carmel, Davis, Hayward, Napa and San Jose, support the proposed program and plan to collaborate with PG&E to make the program a success.
“Berkeley adopted aggressive goals to reduce greenhouse gas emissions and is implementing forward-thinking strategies to reduce energy use and increase the level of renewable energy sources available to our residents,” said Berkeley Mayor Tom Bates. “PG&E’s Green Option program is a valuable addition to our menu of items that residents can consider in our pursuit of providing more renewable energy to serve the community.”
PG&E’s initiative also has support from environmental organizations such as the Natural Resources Defense Council and Environmental Defense Fund.
“This program gives every PG&E customer an additional tool to help protect the environment by investing in clean sources of energy,” said Peter Miller, a senior scientist with the Natural Resources Defense Council. “We're delighted to see PG&E take leadership and create a consumer-driven program that's a win-win for Californians and the environment.”
PG&E will buy renewable energy certificates to match the portion of each participating electric customer’s energy that is not already covered by PG&E’s eligible renewable energy deliveries.
These certificates represent proof that specific quantities of electricity were generated from renewable sources such as wind and solar.
PG&E will take steps to certify the Green Option through Green-e Energy, a program of the nonprofit Center for Resource Solutions in San Francisco. It is the leading certifier of voluntary renewable energy programs in the United States.
The Green Option will let customers support 100 percent renewable energy for a modest premium, similar to what other utilities charge for such voluntary programs. PG&E expects that participating residential customers will pay on average about $6 each month.
Program costs will be borne only by customers who volunteer to participate. Customers may join or leave the program at any time.
PG&E is asking the California Public Utilities Commission to approve the Green Option by early 2013.
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LAKEPORT, Calif. – The Lakeport Main Street Association invites business and property owners to the Main Street Mixer on Thursday, May 3.
Lakeport Ford will host the event at 2440 S. Main St.
Meet and greet starts at 5:30 p.m. Complimentary appetizers and water will be provided, and there will be a no host wine/beer bar, and door prizes, too.
The Business of the Quarter will be awarded.
For more information call Carol Hays at 707-263-8843.
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SACRAMENTO – The California Department of Food and Agriculture is announcing two vacancies on the Fertilizer Research and Education Program’s Technical Advisory Subcommittee.
This subcommittee reviews and recommends fertilizer research and education projects for funding and implementation to the department’s Fertilizer Inspection Advisory Board.
The Fertilizer Research and Education Program funds and coordinates research to advance the environmentally safe use and handling of fertilizer materials within the agricultural sector.
The program serves growers, agricultural supply and service professionals, extension personnel, public agencies, consultants and the public.
Applicants must demonstrate knowledge, technical and scientific expertise in the fields of fertilizing materials, agronomy, plant physiology, production agriculture, principles of experimental research and environmental issues related to fertilizer material use.
The term of office for subcommittee members is three years and members receive no compensation but are entitled to payment of necessary traveling expenses. The subcommittee and research program are funded entirely through user fees and assessments.
Individuals interested in being considered for an appointment should sent a brief resume to Erika Lewis, California Department of Food and Agriculture - FFLDRS Branch, 1220 N Street, Sacramento, CA 95814 or via e-mail at
The application deadline is May 11, 2012.
For further information on the Fertilizer Research and Education Program, please contact Edward J. Hard at 916-900-5022 or visit http://cdfa.ca.gov/is/ffldrs/frep.html .