Polls show that small businesses have a mixed opinion when it comes to the federal tax reform, but for one small Texas company, the Tax Cuts and Jobs Act led to serious growth.
Neutral Posture Chairman and CEO Rebecca Boenigk explains how in a column for The Hill.
“As with many businesses in the U.S., Neutral Posture used our tax cut savings to raise wages, hire more workers, expand our product line, and make needed investments into our business and community. We have a new joint venture that will generate new sales for our company, which was partially funded with these savings.”
The S corporation employs 150 workers (90 in Texas and 60 more spread out across North America) making ergonomic office chairs. She says she started the business with her mother in her garage in 1989 and that the tax system “rigged against small businesses” had held back their operation for years.
With the changes brought on in the 2017 tax reform law, S corporation saw their rates cut and small businesses of all types benefit from the ability to immediately write-off the purchases of new equipment.
“With more money to spend — and sending less to Washington — small businesses hired at the highest level in 45 years,” she writes. “There are also more job opportunities and higher paychecks for millions of American families.”