With the new legislation that just passed over the holiday weekend, we avoided going over the fiscal cliff. But what does this mean for the small business owner? As this article from Fox business points out, not all will be well for small business in 2013. Although the author points out that securing financing has become easier in the past 12 months, the new legislation could have devastating effects on small businesses.
The effects of the end of the payroll tax cut as well as the implementation of the Affordable Care Act could put small business owners out of business. This doesn’t even include the tax hike for business owners earning more than $400,000. If you are a small business owner and you see the bottom coming, you may want to consult with a debt settlement attorney. These attorneys specialize in relieving small business owners of their business debt without the need for bankruptcy.