Small businesses are a key driver of the U.S. economy. When small businesses succeed, so does the U.S. More than 99 percent of U.S. businesses are small businesses, and they employ a full 48 percent of the American workforce. In December 2017, President Donald Trump signed the Tax Cuts and Jobs Act into law, giving these entrepreneurs and the rest
Read moreIRS issues proposed regulations on new 20 percent deduction for passthrough businesses The Internal Revenue Service issued proposed regulations for a new provision allowing many owners of sole proprietorships, partnerships, trusts and S corporations to deduct 20 percent of their qualified business income. The new deduction — referred to as the Section 199A deduction or the deduction for qualified business
Read moreBefore the Tax Cuts and Jobs Act (TCJA), the U.S. had one of the highest statutory corporate income tax rates in the developed world at 35 percent. Now, the federal corporate income tax rate sits at a much more competitive 21 percent, which brings the combined average state and federal tax rate (25.7 percent) closer to the average for developed
Read moreOn December 20, 2017, both the House and the Senate passed H.R. 1 (the “Bill”), which President Trump signed December 22, 2017. The Bill dramatically alters the U.S. approach to domestic and international taxation. It represents the results of a conference agreement between the House and Senate reconciling the version passed by the House on November 16, 2017, and the
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Over the last few years we have seen how valuable Lean tools have become in the entrepreneurial development process. Eric Rees has provided us with an understanding relating to minimum viable product based on creating value rather than waste, Alexander Osterwalder has shown us the importance of visualising your business model and Ash Maurya has provided us with a process
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