Small business optimism is at an all-time high. The Tax Cuts and Jobs Act delivered the biggest tax relief for small businesses in American history, reduced the tax burden on the middle class, and brought the corporate rate in line with international standards.
According to a recent national poll of small businesses, respondents support the Republican tax cuts by a margin of 10-to-1. Small businesses -- which account for two-thirds of all new jobs in the United States -- also are using their tax savings to reward employees.
Businesses have announced bonuses for thousands of employees and billions in additional capital investment to create thousands of new jobs. Others, meanwhile, have increased base wages for all hourly employees to $11 an hour and expanded benefits like maternity leave.
When you consider the size of the small business economy, pro-growth tax policy is revolutionary. America is home to nearly 30 million small businesses, which employ roughly 60 million workers -- half of the U.S. workforce. Small business account for 97.7 percent of U.S. exporters, sending their goods all across the world.
In fact, small businesses account for 99.9 percent of all American businesses. When millions of these job creators receive tax cuts, their employees' lives are changed and the economy is forever transformed for the better.
The Tax Cuts and Jobs Act of 2017 represents the most significant changes in tax law in over 30 years! When was the last time your CPA or tax preparer offered you tax strategies to help you be more prosperous in your business? Give us a call today at 636-394-5524 and let us help guide you through the complexities of these new rules.
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