Tax Relief Historically Benefits Small Businesses the Most

Small businesses can use cash advances to meet pending tax payments.

SBA news for small businesses The SBA has recently applauded the lasting effects of the 2003 Tax Relief Act passed five years ago. Seventy-five percent of the population that benefited the most from the top bracket tax reduction since the Act was passed were small business owners. Business owners who have found paying taxes and meeting their corporate expenses a challenge due to timing often turn to US Business Finance Corp for business cash advances. Within 7 to 10 days of our fast approval process, our cash advances can be used for any business purpose and are quickly accessible.

The SBA is concerned that if the Tax Relief Act is allowed to expire, each of those small business owners. all 27 million strong, will encounter an average tax hike of over $4,000. SBA Deputy Administrator Jovita Carranza noted that "America's entrepreneurs are the drivers of innovation, allow our country to be globally competitive and strengthen our economy."

Even countries from around the Fire Ring to Australia who have felt the pressure from China to increase their business with China at the expense of spending and exporting to the US, find that regardless of economic incentives, the US remains the most creative country in the world. Trading with the US translates into keeping their countries abreast of the most recent and innovative technological advances.

The SBA pointed out that since most businesses are Subchapter S corporations, the business taxes are actually paid on the personal income return and a higher percent tax for each bracket translates into a direct tax on the business and the entrepreneurs' cash flow and ability to invest in their companies.

Small business owners and entrepreneurs are encouraged to contact their national representatives to voice their support for not letting the Tax Relief Act expire. This is one area where Congress can act quickly to benefit business owners' personal financial welfare as well as the national business marketplace.