For small businesses filing as a sole-proprietor the tax bracket rates will be lower for 2018 in many income ranges. A search of the internet will show many recent results on this topic.
Here at Vilnius Industries we reviewed the Tax Cuts and Jobs Act which is expected to be signed into law in January and for almost all of our clients and for most small businesses nationwide there will be a reduction in federal tax liability.
Even if your small business is classified a C-Corporation you will most likely see a reduction in federal taxes owed.
This is the biggest tax code rewrite in 30 years so all small businesses should consult an accountant for their specific situation.
We believe the Tax Cuts and Jobs Act will support economic expansion in the United States for two more years through 2019
One risk is that inflation gauged by the CPI or PCE rises above 2% and causes small business to pay too much for the things they need for day to day operations, right now CPI and PCE are about 1.7 - 1.8
We'll be watching West Texas Intermediate Crude Oil as a leading indicator to the CPI and PCE. Vilnius Industries has a 2018 price cap target of $65 for WTI (Light Sweet Crude) which we wrote about on December 6th 2017 here in the BoA Community in the discussion Small Business 2017 Year End Review
WTI is currently $59 so this means we're running below inflation danger zones, we'll be updating small business of economic conditions and macro trends here in the BoA Community.
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