Let’s make 2018 year of small business
The holidays have come and gone, but the tax cuts and jobs act is a gift that will keep on giving.
The Republican tax bill slashed tax rates and increased deductions for small-business owners, who now have more money to spend on business expansion and job creation.
As a small-business owner myself, I know that when I’m left with more of my business income, I can use it to hire workers, increase pay and explore expansion opportunities.
For decades, federal, state and local taxes hiked my total tax burden to nearly 50 percent. When I first started my business, I had to take out bank loans to pay my taxes on several occasions.
Thanks to President Donald Trump, I now have tax savings to reinvest into the local economy.
And I’m only one job creator. In Pennsylvania, there are one million small businesses, employing 2.4 million people — roughly half of the state workforce. Tax cuts will help them reach even greater heights.
Here’s a New Year’s resolution: Let’s make 2018 the year of small business.
Guy Chemical Co.