respond and reflect

What effect, if any, has the Affordable Health Care Act (Obamacare) had on small businesses? Has it helped or hurt? What do you like to see for changes if the law is to continue (feel free to examine from a small business or an individual's perspectives)? The Affordable Health Care Act or also known as Obamacare is hurting small business and their workers. Many establishments are trying not to expand in efforts not to pay higher taxes. In the future, they will eventually have to pay a larger amount of money each year for their workers healthcare, or in the beginning of the year they will be faced with penalties.

We also need to see that now many companies opt out of offering any health care benefits because they must give all employees health benefits. In order to do this, they make sure they dont have employees so just hire contractors or they make sure they only have part time employees.

Even for those individuals working with companies that dont offer benefits they still need to have health benefits. As I prepare taxes and I receive those clients with the 1095-A form that they receive from the state health insurance from the Obamacare may still need to pay back some of the allowable discounts that they received during the year if they fail to notify them of any changes on the amount that they made since the government pays a portion of the health premiums.

For my future business, Our Kingdom LLC there are actually a few funding sources that I could use and that we are leaning more too. Honestly my first choice of course is self-financing as both my husband and I have jobs and are doing pretty good for ourselves. With Research and knowing everything that we need to start the business we can set a budget and create a savings plan to raise the money that we need. Of course, this can take time so it will not be the main route that we will go with, although we will use a portion of this. Our next choice is in the commercial funding source with the home equity loan or use an SBA loan. For long-term plan we would consider a commercial loan and if all else fails then we would go with the SBA loan.