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Small businesses cheer Trump tax reforms, but some feel they didn't go far enough
Source:
cnbc.com
- Mar 19, 2019
Lana Pol's small businesses are enjoying big savings under the new tax law — at least for now.
The entrepreneur runs four small companies across Iowa, including Mowbility Sales & Service, which sells agricultural equipment, and Geetings Inc., a trucking and warehousing business. Pol said she saw a drop in her overall tax burden this year thanks to the qualified business deduction, a change made to the individual tax code, available for pass-through entities. Her savings look substantial.
"We're estimating around up to $40,000," Pol said. "By utilizing that, we gave our employees raises, knowing that was going to help us for taxes this year."
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Category: General Business
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