Mr. Ira Klein heads the Technology and Marketing Ventures Inc., (TMVi), as the Tax Attorney and General Counsel. It’s a Manhattan based consulting firm. Mr. Klein has a vision– a vision that will benefit millions of small owners in their novel ventures. A small business owner has to face hurdles in the initial years of the trade. Along with all the hurdles, small business owners, especially “startups” would not be reaping benefits for a period of time. However, in their trade they have to spend money on various equipments like computers. Though it has also been seen that The Federal Government provides a significant deduction on tax for the traders to buy equipments, but those business that bear loss, do not get the deductions for that period. Mr. Ira Klein along with his wife Ms. June R. Klein wants to see a change as regards this, a change that will benefit the small business owners. In this context, the Kleins are asking the federal legislators to put forward a law which will create a market place beneficial for the small businesses by way that, it could put up for sale the deductions which are useless to them.
Under the able leadership of Mr. Ira Klein along with his wife Ms. Klein, this vision is going to be fruitful. As they foresee a marketplace where the consumer and the vendor would get the opportunity to connect with each other and also through a bidding process they would settle on the assessment of the reduction of the equipment. At the time of recession of the early 1980s, TBT leases were developed and the above said method will be in line with this. These leases will assist the proprietor to put on the market the inference of equipment reduction. However it will differ from “auction-like” situation. According to Mr. Klein, a large number of small business owners did not took the benefit of TBT leases. This is due to the complication and the authorized overheads of the leases. Mr. Klein also said that in 1983, the law which sanctioned it was canceled because the companies which were much bigger were reaping the large chunk of benefits of the leases. In addition to all other work which Mr. Klein is undertaking, he is also helping to craft the fine points of those leases. Along with all the other benefits of tax exchange, another good thing about it is that, the tax exchange program would be trouble-free for the users. Furthermore, with this proposal the small companies will get the required “push” which will enhance them to develop their trade in the competitive market scenario.
Sara Horowitz, who heads the Freelancers Union as a Founder and also as the Executive Director, based in Brooklyn is of the opinion that the said exchange program could be beneficial for the freelancers. She said that anything which permits them to even out their income in due course is always preferable. To bring momentum to the initiative Mr. and Ms.Klein are working on finding ways to build local support for the same. Keeping this in mind, Ms.Klein tabled the proposal to Nancy Ploeger who heads the Manhattan Chamber of Commerce as President and also to Sen. Kirsten Gillibrand’s staff based in New York. In addition to that the proposal has also been sent to a Connecticut Democrat named Rep. John Larson from the House Ways and Means Committee. The proposal is already being evaluated by the senator’s office.
In view of this Mr.Klein said that the U.S Treasury will not be charged anything for the said proposal and this will not also hamper the deficit. Ms. Ploegar has also supported this smart proposal while arguing that Small Business Administration programs has been given a huge push by President Obama by placing huge amount of money into the system and if proposal like this is also on the line of helping the Small Business Owners than it must be supported and facilitated. Ms. Ploeger also opined that there is no any such loss implementing the proposal while considering the fact that the government spends huge amount of money here and there, to support small business so therefore implementing the proposal will be beneficial to the small business fraternity.
Mr. Klein’s novel venture will also help in creating jobs for the unemployed lot. The increase in demand for the latest equipment will increase the employment level at the equipment manufactures and equipment sellers section of the U.S. Also the start-ups will be benefited because of the TBE since the new equipments will be cheaper than earlier. This will further enhance the employability at the new start-up small businesses. This will further help in the growth of the existing small businesses as they can purchase equipment on a low cost. Furthermore, there is always an increase in the demand for labor and employment as and whenever small businesses grow. And also employment will increase because of the need for installation, operation and maintenance of the new equipment. Mr. Klein through his innovative skills and expert leadership traits is doing his part for the betterment of the society.