Whether you agree with the new tax plan or not, the fact is it’s here to stay (at least for the next 3 years).
I want you to stop thinking about how it affects your taxable income and start thinking about the many ways it can put cash in your pocket and fuel any business desires you may have.
One portion of the plan hands you $75,000 to inject into your business and puts you on track for that multi-million-dollar company you’ve always dreamed of.
Let’s see how you can snatch this massive chunk of cash…
2018 is underway and there’s a lot of people turning their focus to the new tax plan… and for good reason.
As an individual, it could have a big positive effect OR a big negative affect depending on where your income lands, but business owners are rejoicing.
It’s time for you to join them by taking this $75,000 to push your business to the next level.
This $75,000 is available for people who already own a business and those who are thinking about starting one up…
Will this finally be the push you need to jump into that business idea of yours?
What we’re looking at here is the corporate tax rate…
In the previous plan, the corporate tax rate was 35%. That means all business income was subjected to a 35% taxation.
The new tax plan knocks that number down to 20%.
This is the reason you might be seeing headlines stating certain companies (Wal-Mart, for example) are handing out tax-cut bonuses to all its employees.
Think about the sort of cash this tax cut has given Wal-Mart.
In 2016, Wal-Mart’s revenue was $482 billion… it’s expected to do a little more than that on 2017.
Under the old tax rate, Wal-Mart paid $168 billion in taxes… The new rate will give $72 billion of that back to them.
That’s a heck of a lot of money saved in taxes under the new plan.
No wonder there are bonuses being handed out left and right. The tax savings are burning a hole in the company’s pockets.
But it’s not just these massive companies that are benefitting from this.
If your business makes $500,000 (which is extremely possible with all the advice I provide you through content and with our Midas Circle course), the taxes you’d pay under the old bill would be $175,000.
Under the new bill, you’d only pay $100,000 on that $500,000 revenue.
This puts $75,000 back into your company’s bank account.
Think about what you could do for your business with that kind of money.
If you spend it wisely, you could turn that $500,000/year business into a $1 million/year business… and it’d just keep snowballing from here.
I know this seems like a stretch if you’re new to business, but all the tools are made available to you.
It’s up to you to jump into the deep-end and grab this $75,000 of a life preserver to stabilize your business.