General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsQuestion for DU small business people.
Have Trump policies really been that beneficial to business? Has it been so much that it is better for business owners in your community to forgo living wages and healthcare or employees for a corrupt government? What are you hearing out there?
MontanaMama
(23,337 posts)My husband and I own two businesses that employ 7 people in total. Our taxes have increased which is a big deal to us. We pay employees a living wage, provide a company matched 401K and company paid health insurance. The tax breaks we were getting were better before tRump than they are now by a stretch. We've managed to keep compensation packages the same for our employees because we value them but it is costing us more without a doubt. The infamous tax cuts for business are for large corporate entities...not for main street businesses like ours.
FSogol
(45,524 posts)We employ 20 people.
Skidmore
(37,364 posts)I wish more stories were out there besides those people gushing over Trump and using GOP talking points. Everything sounds so wonderful. Not owning a business makes it hard to gauge.
GusBob
(7,286 posts)The short answer is no better no worse. but based on close interaction with clients, the longer answer is depends on where you live and the business you are in. Basically the rich are getting richer ( financial, real estate and cooperate) and the poorer are staying poorer.
In our area it is mostly service industry, wages are flat even though un employment is low.
Everyone, including us, seems to be working harder just to stay even
In health care the booming industries are elder health services, big growth there. Big wealth for the owners, hard work and flat wages for the workers
marble falls
(57,172 posts)Yonnie3
(17,476 posts)There may be a write off which reduces income taxes, but it is unclear if it would apply to this particular pass though business. Without knowing the details, planning has not been made. The last I checked, guidance has not been issued by the IRS. I suspect whatever they issue will end up in court.
It appears that many forms will be different and some expenses not allowed. There is uncertainty whether or not health insurance will be a write off and so forth. Extra unproductive time will be spent learning the new way.
Red tape for compliance with DOT has increased.
Edit to add: There are no employees. This is a part of the gig economy. Gigs in this case for the most part actually are performances.
matt819
(10,749 posts)The stuff I import is subject to small duties and are not likely to increase. Other than that, no effect.
Sedona
(3,769 posts)Prices increasing 5-10 % a year due to lack of sellers, volume is down, also due to lack of sellers.
New construction volume is down due to immigration policies and difficulty finding labor to build houses that are desperately wanted by buyers.
Many buyers being priced out of the market.
Honestly it's a typical cycle.