CityView Magazine - Fayetteville, NC
Issue link: http://www.epageflip.net/i/1114537
A Business Forum Thursday, May 30th, at 7:30 a.m. Highland Country Club at 105 Fairway Drive, Fayetteville, NC 28305 SPEAKERS For more information or to purchase tickets visit CityViewNC.com BUSINESS BREAKFAST CityView David W. Trego CEO of Public Works Commission Gina Hawkins Chief of Police Fayetteville Police Department John Szoka North Carolina Legislative Representative P L A T I N U M S P O N S O R G O L D S P O N S O R S S I L V E R S P O N S O R S 572 Executive Place, Fayetteville, NC • 910.323.3100 www.mscpas.com • facebook.com/mcfadyensumner If you're a small business owner, you may be wondering how you can use this new Tax Reform provision. The short answer: It's complicated and you should get help! Some things to consider: • Small businesses structured as sole proprietors, S corporations and partnerships can deduct up to 20% of their qualified business income, but that percentage can be reduced if your taxable income reaches $157,500 ($315,000 for married, filing jointly). • The amount of the reduction depends partly on the wages paid and property acquired by your business during the year. • Certain service industries including health, law, consulting, athletics, financial services and accounting are treated differently. The IRS is expected to issue more clarification on how these rules are applied. If you would like to know how this new deduction affects you, as well as other ways to save on your taxes, contact our firm at 910-323-3100. As a leading edge CPA firm, McFadyen & Sumner offers a full range of accounting, tax and financial services to help you get the most from your business for your family. Hoping to Use the New 20% Small Business Deduction? WELLS FARGO ADVISORS Senior Vice President Eddie Waren Robert Van Geons President & CEO of Fayetteville Cumberland Economic Development Corporation A Business Forum ursday, May 30th, at 7:30 a.m. Highland Country Club at 105 Fairway Drive, Fayetteville, NC 28305 SPEAKERS For more information or to purchase tickets visit CityViewNC.com BUSINESS BREAKFAST CityView David W. Trego CEO of Public Works Commission Gina Hawkins Chief of Police Fayetteville Police Department John Szoka North Carolina Legislative Representative Robert Van Geons President and CEO of Fayetteville Cumberland Economic Development Corporation P L A T I N U M S P O N S O R G O L D S P O N S O R S