Marketing is just one of the many responsibilities that the average small business owner juggles every day. InfusionSoft’s 2017 Small Business Marketing Trends report found that almost half (49 percent) of small business owners reported handling the marketing for their business.
One of the most significant changes in the Tax Cuts and Jobs Act will be a 20% deduction for all pass-through businesses. (Businesses that pass income to the owner to pay the income taxes.) This means, as an example, if your revenue in 2018 was $500,000, you will pay taxes on only $400,000 of that revenue. In a 15% tax bracket, the savings will be about $4,500 on a gross basis and even on a net basis the savings will get your attention. It is anticipated that this will impact roughly 95% of the small businesses in the United States.
