After Polling Shows Small Businesses Doubt New Tax Overhaul Will Benefit Them, Coalition Launches Educational Series to Help Entrepreneurs Understand the Law’s Impact

 

March 28, 2018

Businesses for Responsible Tax Reform today launched a series of webinars for small business owners in Arizona, California, Nevada and Maine to explain how the new tax law impacts them. The series comes after polling shows small business owners in those states doubt the tax law will enable them to hire or give raises

March 28, 2018—Businesses for Responsible Tax Reform today kicked off a series of online educational events across the country designed to give small business owners an in-depth understanding of what the new tax law means for them and how it might affect their taxes. The series comes on the heels of polling that found the majority of small business owners in four battleground states don’t think the law will have much impact on their business growth.

Specifically, the poll found the law won’t allow small business owners to hire or give raises, and that it does not put them on a level playing field with big corporations. In response to the polling, Businesses for Responsible Tax Reform crafted an educational series helping small business owners understand what the law means for their bottom lines.

“There has been a lot of media coverage about the impact the new tax law is having on big corporations and Wall Street, but there has been a lot less about what it means for small business owners,” said Frank Knapp Jr., co-chair of Businesses for Responsible Tax Reform and president/CEO of the South Carolina Small Business Chamber of Commerce, who will host the webinars. “We aim to fix that by delivering information directly to small business owners about what the law means to them.”

The webinar series, which will be held over the next month, targets small business owners in Arizona, California, Maine and Nevada but is open to any small business owner across the nation who wishes to join.

The webinars, created with Business for Responsible Tax Reform Co-chair Anne Zimmerman, a CPA who works with small businesses, will cover topics including:

  • A detailed look at the law’s small business provisions, including the 20 percent pass-through deduction, which is central to understanding tax breaks for the vast majority of small businesses
  • How small business provisions in the new law compare with corporate provisions
  • Polling of small business owner sentiment about the law
  • A question-and-answer session with small business experts

“Our polling has found that most small business owners don’t believe the new tax law will help them make a significant investment in their business growth by allowing them to hire or give their employees raises,” Zimmerman said. “While the impact for entrepreneurs is not likely to be significant, the new tax law does create a lot of new complications to the tax code that small business owners need to understand. We designed this webinar series to shine a light on an incredibly complex law and help small business owners understand what it all means for them.”

Businesses for Responsible Tax Reform’s recent poll of small business owners in Arizona, Maine, Nevada and Tennessee found that small business owners don’t think the law will have a significant impact on the growth of their businesses. For example:

  • 69 percent of small business owners said they would not be hiring a new employee as a result of the new tax law
  • 59 percent of small business owners they will not be giving their employees raises due to the new tax law
  • Only 20 percent believe the middle class and small businesses will benefit the most from the tax law
  • Only 31 percent of small business owners think that the tax law puts them on a level playing field with corporations

Webinar dates & times

California: 5pm PDT, March 28

Maine: 8pm EDT, April 3

Arizona: 6pm MST, April 5

Nevada: 6pm PDT, April 9

For event registration information visit: facebook.com/BusinessesForResponsibleTaxReform

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About Businesses for Responsible Tax Reform

Businesses for Responsible Tax Reform is a coalition of business leaders calling for tax reform that truly benefits America’s small business owners. We are dedicated to ensuring tax reform is fiscally responsible, creates a level playing field for all businesses, grows the economy and works for our nation’s 30 million small business owners. Learn more about us on our website and follow us on Twitter and Facebook.

Media Contact:

Conan Knoll
conan@emcstrategies.com
(831) 524-6764

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