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Opportunity Knocks for Small Business Owner!!
By Carol Bennett
Do you want to sell your business now? The new tax laws are already helping small businesses save money. Buyers on the other hand are keeping a close eye on the interest rates for loans. Consider where we are with the economic growth and recent world affairs that continue to change, especially in the last six months. Keep tuned in with news headlines which will help keep tabs on whether the global benchmark will change. Here are four important areas to consider if you are thinking about waiting for the “perfect moment” to sell:
- Small Business Tax Benefits
Small Business planning will be critical probably through December 2025. Since the “Tax Cuts and Job Act of 2017” went into effect, there are new rules, some bad, some good. For example, a positive is that business deductions on net income went up to 20%, on qualified small business income. On the flip side, travel and entertainment deductions have changed and deductions to employees may end up on a W-2.
