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New Tax Reform Impacts Your Business

The monumental new tax law has been hailed as a big win for businesses. For starters, the bill lowers the corporate tax rate to a flat 21% on all profits. Businesses can expect many changes this year. Here's a highlight of some of the more significant updates:

Pass-through businesses: There is now a 20 percent deduction for all pass-through businesses.

Deductions: Married individuals who own service-based businesses can only receive the 20 percent deduction if they make under $315,000 per year ($157,500 if single).

Why Hire A Professional Bookkeeper?

Many business owners tackle the books on their own, but hiring an expert to take care of your books offers so many advantages:

1. Focus on your business: Hiring a professional to handle your accounting means you have more time to dedicate, focus and invest in your business, spending less time on administrative tasks.

2. Never Pay a Bill Late: Delegate bill payment to someone with the skills and time to oversee timely payment.

3. Efficient & Timely Invoicing: Getting your books in great shape means you’ll be able to invoice more effectively and quickly.

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