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Posted at 05:00 AM ET, 02/02/2012

Get started ‘On’ Feb. 2: Facebook files for $5B IPO, House lawmakers planning tax break for small businesses

Our daily blend of the latest news, trends and tips for the small business community.

What’s going ‘on’:

Mark Zuckerberg’s fortune could soar above $28 billion following the IPO. (Kim White - BLOOMBERG)
Facebook files for $5 billion public offering: The social media company filed for a much-anticipated stock offering in which it plans to raise $5 billion, making it the largest ever initial public offering for a Web firm. Based on that figure, analysts say Facebook’s value could reach between $75 billion and $100 billion.

GOP lawmakers planning tax cut bill for small businesses: House Republicans are planning legislation granting small businesses (and potentially nearly every company in the country) a 20 percent income tax deduction, according to House Majority Leader Eric Cantor. The tax cut would apply to every business with fewer than 500 employees.

House passes measure to freeze federal salaries:House lawmakers voted Wednesday night to freeze their pay and the salaries of congressional staffers and civilian federal employees, scoring a symbolic victory for congressional Republicans who have targeted government compensation as an example of excessive federal spending.

Keep an eye ‘on’:

Romney reaffirms support for minimum wage hikes:Republican presidential contender Mitt Romney renewed his support Wednesday for automatic increases in the federal minimum wage to keep pace with inflation, a position sharply at odds with traditional GOP business allies, conservatives and the party’s senior lawmakers.

Helpful advice ‘on’:

How to take advantage of SBIR grants (OSB)

How to bring on independent contractors (New York Times)

How to select the right license and permit for your firm (SBA)

How to be a better business communicator (Small Biz Trends)

How to get start-up capital sans home equity (Wall Street Journal)

By  |  05:00 AM ET, 02/02/2012

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