Dave Fechter Inc is your tax and accounting solution provider. Call (916) 947-2306 today.
For those of you looking to find Craig Fechter, unfortunately he is no longer with us. I am his father and am also a CPA and I continue to keep his high quality of CPA tax work. Please contact me for an appointment.
Donald Trump is approaching his 2-year anniversary as our nation’s 45th president. Love him or hate him, he has promoted and signed a tax law with several benefits. I am talking about the corporate tax rate here, with information from https://smartasset.com/taxes/heres-how-the-trump-tax-plan-could-affect-you.
Corporate taxes fell from 35% to 21% for tax year 2018. If your business showed a profit of $100,000 this year, you will be subject to $21,000 in federal taxes. Without this legislation, you would have had a $35,000 federal tax bill. Ouch! The individual tax rates have been reduced and the alternative minimum tax has been eliminated for most of the taxpayers.
Since we’re talking about your corporate taxes, the savings should remain within your corporation. Here are a few ways to put that tax savings to good use.
Yes. I just told you how to spend your tax savings. You can use the tax savings to provide your staff with better computers, vehicles and office furniture. To enjoy this tax savings and find more tax savings you probably did not know about, call Dave Fechter, CPA at (916) 984-2081 today.