Small Business Administration (SBA) reports more than 27.3 million small businesses (SBA Office of Advocacy, 2009) in operation. In addition, small businesses account for more than half of the nation's employment. Increasingly, calls for tax reform center on various flat tax proposals. In this ...
In December 2017, Congress passed the Tax Cuts and Jobs Act (TJCA), which went into effect in 2018. This tax reform brought about big changes for small business owners, most notably the Qualified Business Income Tax Deduction. This deduction allows small business owners to deduct up to 20% ...
Small business owners are more optimistic than ever about the economy, thanks to tax reform. The NFIB Small Business Economic Trends Survey optimism index hit a record high of 107.6 in February. The historically high numbers include a jump in small business owners increasing capital outlays and ra...
Tax Reform Redux: Opportunities and Challenges For Small Business Digging into the proposed details reveals both opportunities and challenges for entrepreneurs. EXPERT OPINION BYSEAN STEIN SMITH, ASSISTANT PROFESSOR, LEHMAN COLLEGE (CUNY)@SEANSTEINSMITH ...
While comprehensive tax reform is a worthy goal, if small business reform can pass by itself, Congress and Trump should move forward with it. Reducing the tax burden on small businesses which create two-thirds of the country’s new jobs and half of all its jobs is still a broad tax refor...
Contrary to what you've been hearing from almost every tax expert in the country, the Tax Reform Act may yet turn out to be a bonanza for small business companies seeking outside equity. Discusses how tax reform has created a potentially huge ...
Fast forward 37 years, and my passion for the business prompted my involvement in our local chamber of commerce and then my work with the U.S. Chamber. Now, as chair of itsSmall Business Council, I am paying close attention to thetax reformadvancing through Congress on behalf of the milli...
The State Council decided at its executive meeting on 31 March to deepen the reform of streamlining administration, delegating power and improving services, extend preferential tax and fee policies and optimise tax concessions for micro and small enterpr
One part of tax reform Mahoney is excited about is full expensing. “That’s huge,” he declared. Noble Gas will be able to immediately write off business investments off its taxes. For example, this year, Noble Gas bought an automated cylinder filling island. Under the current law, it wa...
Starting next week, though, let’s begin working toward real, grass-roots tax reform. Large corporations had their chance to help the economy, but they just pocketed the cash. Let’s give small business a shot. TondaBenge is the owner of Professional Dog Mom, the K-9 Nannies...