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done deal: tax reform passes congress

The tax reform bill lowering the corporate tax rate and making a number of adjustments to the individual tax code has been approved by Congress and is set to become law.

The final tax bill sets a corporate tax rate of 21% starting in 2018, a top individual rate of 37%, the repeal of the corporate AMT, a $1 million phase-out threshold inclusion for the individual AMT, a $750,000 mortgage interest deduction cap through 2025, a 20% deduction on pass-through income, an increase in the estate tax exemption (but not repeal), a $10,000 deduction for state, local, sales or property tax (SALT), 100% deduction of cap-ex for five years, maintaining the deductibility of interest from private activity bonds, and a repeal of the individual mandate of the Affordable Care Act (ACA). In this report, we review the effects of the final provisions and cover next steps for Congress as we head into 2018.

 
 
 
 
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The Exit Planning Institute State of Owner Readiness Survey: Tennessee

Small businesses are the backbone of our economy.
They provide jobs, as well as economic and social well-being for countless Americans.

The Exit Planning Institute surveyed more than 200 small business owners in the Greater Nashville region and uncovered some glaring gaps in owners’ awareness
and preparation for an eventual sale or transfer of their business.

 
 
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MILLENNIALS in the workplace: How do managers inspire them? 

The Millennial Generation (born 1981–1995) is 76 million strong, and many managers seem to have great difficulty understanding and inspiring them. And that creates a problem, because they comprise 36 percent of today’s workforce, a percentage that will grow to 46 percent by 2020. Millennials are tech savvy, ambitious, and fond of working in teams; have a desire to make the world a better
place; and like to do things their own way. Unfortunately, some managers see them as lazy, entitled, self-focused, and impatient—hence difficult to manage (White, 2015). The truth is that Millennials offer a set of skills and a mind-set that fit well with the challenges facing organizations today. It is essential for managers to understand how this generation thinks, what they are looking for in the workplace, and how to inspire them to contribute their unique talents.

 
 
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Financing Your Business Now

Many private business owners are successfully emerging from the recent recession ready and willing to expand, but are uncertain how funding sources will view their requests for the essential debt and equity funding. 2nd Generation Capital has surveyed middle Tennessee money sources and has prepared this overview of financing alternatives in the local market with practical advice for business owners.

 
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building wealth & stability while in business:
aligning key employees with the growth of your business without giving up control

Bonus? Stock? Profit Sharing?  Our friends at Waller have prepared this handy chart to guide you in making decisions to align your key employees without giving up control.