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NFIB Provides Vital Small Business Guide

April 3rd, 2017 Comments off
NFIBProvidesVitalSmallBusinessGuidecreditNFIB1-postedtothedailybusinessnewsmhpronewsmhlivingnews

Credit: NFIB.

The National Federation of Independent Business (NFIB) is out with its 2017 Small Business Tax Guide.

The free publication helps small business owners to identify what’s new for the 2016 tax year, and outlines some of the reforms that the organization expects to see over the next few months as President Donald Trump works to move his tax reform plans forward.

Tax reform that starts with small business is one of the keys to unleashing a strong American economy. Approximately 75 percent of small business owners are taxed at the individual tax rate, not the corporate tax rate, because their businesses are structured as pass-through entities,” said the NFIB in a statement.

Tax discrepancies between corporate and individual rates must be addressed in this once-in-a-generation window of opportunity. There is tremendous optimism for this new Congress to repair and simplify a tax code that is holding back our small business economy.

Each year, small business owners cite taxes as one of their top issues, due to ever changing rules and punitive rates.

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Credit: NFIB.

We are very active on tax reform, one of our key priorities for 2017. President Trump and Congressional leadership agree that taxes are far too high for both pass-through businesses and C corporations. The tax code strongly favors large corporations. NFIB believes that no small business should be paying a higher tax rate than Exxon Mobil,” said NFIB CEO Juanita Duggan.

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Juanita Duggan. Credit: NFIB.

I have made it clear to Congress and the President’s team that tax reform starts with small business. Small business employs 58 million Americans and creates more than half of all jobs. If the purpose of tax reform is to grow the economy and create jobs, then it must focus on small business.

Duggan and the NFIB have been vocal and active leading up to, and after the election of President Trump, including a report last month about small business optimism being at it’s highest rate in 37 years.

We haven’t seen numbers like this in a long time,” said Duggan. “Small business is ready for a breakout, and that can only mean very good things for the U.S. economy. Business owners are feeling better about taking risks and making investments.

The NFIB 2017 Small Business Tax Guide is available here.

The small business optimism report is linked here.

For more from the NIFB on small business, click here. ##

 

(Image credits are as shown above.)

 

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RC Williams, for Daily Business News, MHProNews.

Submitted by RC Williams to the Daily Business News for MHProNews.

Small Business Optimism Index: January Results

February 17th, 2017 Comments off
SmallBusinessOptimismIndexJanuaryResultscreditOprah-postedtothedailybusinessnewsmhpronewsmhlivingnews

Credit: Oprah.

Almost one month into the Donald Trump administration, things continue to look up.

According to the National Federal of Independent Business (NFIB) survey, small business confidence, which saw the largest month-over-month increase in the survey’s history in December, has now reached its highest point in more than a decade.

 

 

The stunning climb in optimism after the election was significantly improved in

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Juanita Duggan. Credit, NFIB.

December and confirmed in January,” said NFIB President and CEO Juanita Duggan.

Small business owners like what they see so far from Washington.

The Index reached 105.9 in January, an increase of 0.1 points, the highest point since December 2004.

The continued surge in optimism is a welcome sign that economic growth is coming,” said NFIB Chief Economist Bill Dunkelberg.

The very positive expectations that we see in our data have already begun translating into hiring and spending in the small business sector.

SmallBusinessOptimismIndexJanuaryResultscreditNFIB1-postedtothedailybusinessnewsmhpronewsmhlivingnews

Credit: NFIB.

The NFIB survey is a monthly snapshot of small businesses in the U.S., which account for most private-sector jobs and about half of the country’s economic output. Economists look to the report for a read on domestic demand and to extrapolate hiring and wage trends in the broader economy.

SmallBusinessOptimismIndexJanuaryResultscreditNFIB2-postedtothedailybusinessnewsmhpronewsmhlivingnews

Credit: NFIB.

The January jobs report surprised pundits and disappointed critics, coming in strong and well ahead of ‘consensus,” said Dunkelberg.

NFIB survey results anticipated the strong showing as their optimism gets translated into hiring action. Gains in expected sales require more workers to produce output and handle sales. The increase in labor force participation was a welcome sign, suggesting that labor markets are not as tight as the unemployment rate indicates which went up, and that, as opportunities materialize and compensation rises, more workers will re-enter the labor force.

The report from the NFIB is based on a survey of 1,874 small business owners. According to the Small Business Administration (SBA), small companies represent 99 percent of all U.S. Employers.

We’ve had very low growth for years, mainly because small businesses have been tied down by regulations, taxes, and spiraling health insurance costs,” said Duggan.

Now they can see relief on the horizon, and they are much more optimistic about the future.

For more on last month’s NFIB survey and commentary from the manufactured housing industry, click here. ##

 

(Image credits are as shown above.)

 

rcwilliams-writer75x75manufacturedhousingindustrymhpronews

RC Williams, for Daily Business News, MHProNews.

Submitted by RC Williams to the Daily Business News for MHProNews.