You’re probably entitled to a number of beneficial tax breaks thanks to the Tax Cuts and Jobs Act – but are you taking advantage of them?
It’s tax season again, and for many of us, that means more work and more stress to get everything in order. Taxes rarely mean good news, which is why most people tend to avoid thinking about them unless they absolutely have to. It’s because of this bad reputation that many have overlooked the tax breaks made available by the Tax Cuts and Jobs Act.
Balboa Capital recently conducted a survey of small business owners to find out how much they know about the Tax Cuts and Jobs Act (H.R.1) and what it means for their business. The Act was signed into law late last year on December 22nd, and yet, half of the surveyed business owners aren’t entirely aware of the effect it could have on their livelihood. At the same time, 70% of those small business owners have plans to invest in 2018.
What do these stats have to do with one another? The truth about The Tax Cuts and Jobs Act is that it offers a number of beneficial tax breaks that will make it easier for businesses to invest this year and grow their capital.
Highlights of the Tax Cuts and Jobs Act include:
“Staying up-to-date with the ever-changing tax laws can be challenging for small business owners,” said Carla Freberg, Vendor Services Manager at Balboa Capital, to PRWeb. “The results of our latest survey show that small business owners have different levels of awareness of the latest tax overhaul. That said, the overall outlook for 2018 is positive, and many small business owners believe the lower tax rates, and higher Section 179 deduction limit, will enable them to invest in their companies with greater confidence”.
That’s not all though – the Balboa Capital Tax Cuts and Jobs Act survey also found that:
“The lower corporate tax rate and increased expensing limits and tax credits are presenting many small business owners with a great opportunity to invest in their companies. Balboa Capital is here to support them with our portfolio of quick, hassle-free financing solutions,” continued Ms. Freberg.
For more information about how your business and its IT can benefit from the Tax Cuts and Jobs Act, as well as Section 179, don’t hesitate to get in touch with Centerpoint IT right away at (404) 781-0200 or firstname.lastname@example.org.