By : Parrish Alleman
Source : http://www.kake.com
Category : Small Business Grant
The co-owners of Advatec started up their company about three years ago. The business develops and builds robotic machines that end up on factory floors doing things like loading and unloading materials.
“We're involved in all types of industries from Aerospace to Air Conditioners,” Co-owner Doug Hodgens said.
The guys say one of the biggest challenges for any small business is cash flow; having enough money on hand to grow, hire and advertise. That's where Gov. Sam Brownback's new tax reform plan, which sets out to eliminate state income tax for small businesses, might come in handy for the owners of Advatec.
“We're at a point where we're looking for growth, and this would be a great opportunity for us and allow us to keep more money within our business and reinvest it and help our business grow and flourish," Hodgens said.
Aside from lowering income tax rates for individual tax payers, Governor Brownback's tax plan also sets out to streamline the state tax filing process; eliminating all itemized deductions and cutting nearly two dozen tax credits like child care credit and earned income credit that Kansans can currently file for.
“What the governor is trying to do is say, 'Let's eliminate those choices and give more back as a head of household income tax and make it a little simpler, that way you as a person can determine how you spend your money and how you make those choices,'” Jeremy Hill Director of WSU's Center for Economic Development said.
Hill says it's still too early to determine if the lower income tax rates will outweigh cutting tax credits, but the owners of Advatec already have high hopes the new tax plan will be good for our local economy.
“Being able to have that extra money to be able to be able to invest in the business by hiring people, I think it's going to be great for a lot of small businesses,” Hodgens said.
Source : http://www.kake.com/news/headlines/Small_Business_Owners_Happy_About_Governors_Tax_Reform_Plan__137231583.html?ref=583
Source : http://www.kake.com
Category : Small Business Grant
The co-owners of Advatec started up their company about three years ago. The business develops and builds robotic machines that end up on factory floors doing things like loading and unloading materials.
“We're involved in all types of industries from Aerospace to Air Conditioners,” Co-owner Doug Hodgens said.
The guys say one of the biggest challenges for any small business is cash flow; having enough money on hand to grow, hire and advertise. That's where Gov. Sam Brownback's new tax reform plan, which sets out to eliminate state income tax for small businesses, might come in handy for the owners of Advatec.
“We're at a point where we're looking for growth, and this would be a great opportunity for us and allow us to keep more money within our business and reinvest it and help our business grow and flourish," Hodgens said.
Aside from lowering income tax rates for individual tax payers, Governor Brownback's tax plan also sets out to streamline the state tax filing process; eliminating all itemized deductions and cutting nearly two dozen tax credits like child care credit and earned income credit that Kansans can currently file for.
“What the governor is trying to do is say, 'Let's eliminate those choices and give more back as a head of household income tax and make it a little simpler, that way you as a person can determine how you spend your money and how you make those choices,'” Jeremy Hill Director of WSU's Center for Economic Development said.
Hill says it's still too early to determine if the lower income tax rates will outweigh cutting tax credits, but the owners of Advatec already have high hopes the new tax plan will be good for our local economy.
“Being able to have that extra money to be able to be able to invest in the business by hiring people, I think it's going to be great for a lot of small businesses,” Hodgens said.
Source : http://www.kake.com/news/headlines/Small_Business_Owners_Happy_About_Governors_Tax_Reform_Plan__137231583.html?ref=583
