In Their Own Words: 20 Female Business Owners Speak about the Impact of the 2017 Tax Cuts

The Big, Beautiful Bill (BBB) is making its way through the U.S. Senate. This bill will deliver the largest tax cuts in history.

Small businesses were boosted by the 2017 tax cuts and stand to gain immensely from this new tax package. Here’s how:

• Lower income tax rates – In 2017, the Tax Cuts and Jobs Act (TCJA) lowered income tax rates for nearly all tax brackets. The BBB makes those rates permanent. For entrepreneurs and most small businesses considered pass-throughs because they report their income on individual tax returns, lower rates mean keeping more revenue.

• Small Business Deduction (199A) – The TCJA created a 20% deduction for small businesses. The BBB would make that deduction permanent and increase it to 23% for the next four years. This was intended to put tax relief for small businesses on par with that delivered to corporations.

• Opportunity Zones – The TCJA created tax incentives to businesses that invested in blighted and underdeveloped areas, generating billions in investment. The BBB revives this program.

There are many other provisions benefitting small businesses and family businesses that are either revived or made permanent.

The real impact of tax cuts is not what they do for individuals and businesses, but what those Americans do with the tax savings. 

From hiring workers to expanding warehouses, small and large businesses passed their tax savings on to their workers and expanded their enterprises.

Read what 20 Female Small Business Owners did with their Tax Cuts from 2017:   

Advance Financial (Nashville, Tennessee) – Tina Hodges, CEO and chief experience officer for Advance Financial, explained that this business increased 401(k) matching, profit sharing, and charitable donations. She said, “Because we believed the new administration was committed to doing what it takes to get America’s economy back on track, we are already ahead of the curve this year in terms of capital investments. We dramatically sped up our plans to open new locations – we’re opening the 85th one this morning in Jackson – and hire more employees – we are bringing on 100 new people in January. We have also exponentially expanded our reach outside of Tennessee. In 2017, for the first time, we began offering our services outside the state via the Internet and today we are in 10 states other than Tennessee.“

Albanese Confectionery (Merrillville, Indiana) – This Indiana-based candy manufacturing company gave out bonuses of up to $2,000 annually as long as the Tax Reform Bill stays in effect and expanded their benefits to include new programs such as paid maternity and paternity leave. “Taxes are complicated. With the new tax plan we are able to take a giant leap in investing in the things that matter. You matter. It’s just that simple.” Officer Tess Albanese said to employees. 

Ariel Corporation (Mount Vernon, Ohio) – Karen Buchwald Wright, the Chairman, CEO, and President of the Ariel Corporation, noted that: “National wages throughout manufacturing had essentially been flat for 20 years. So, across the board, we gave everyone a 13% increase in wages.”

Copperleaf Assisted Living (Stevens Point, Wisconsin) – An assisted-living business gave its 175 employees bonuses up to $600. Krista Mendyke, who owns Copperleaf Assisted Living with her husband, Jim, explained: “It’s really to bring awareness to what’s going on in our country and how it impacts them … and that businesses and corporations do want to do the right thing,” she said. “I called (our accountant) yesterday and I said, what does this mean for us, a company our size? They sent us a projection and we’re going to go ahead and pass that on.”

Dohrn Transfer (Rock Island, Illinois) – This transportation company gave $1,000 bonuses to approximately 1,200 employees in six states and increased capital expenditures. Heather Dohrn, vice president of sales and marketing, said “It was from the tax plan. It generated tax savings for our company, and we wanted to share it with our employees. Even our part-time employees received the entire bonus.”
She added, “One thousand dollars goes a long way with hardworking people. It’s exciting to hear what they are doing with it, and that they feel appreciated. It’s important for us to make sure we are compensating them and passing on those savings to them, because they are the ones that make us successful. Our secret sauce is our employees, so we want to make sure that we are compensating them.” 

Five Senses Spa, Salon and Barbershop (Peoria, Illinois) — Paola Hinton, owner, gave each of her 20 employees at Five Senses Spa, Salon and Barbershop in Peoria a $500 bonus. She said. “It’s a direct impact. I know if I give them $500, they’re going to be able to go do whatever they need to do.” Hair stylist Breitanya Williams spent part of her bonus fixing the taillights on her Buick Rendezvous and subscribing to a workout program. “That’s like my life-changing part,” said Williams, 25. “I just had my fourth child in five years … (and I’m) trying to make my family and myself healthier.”

Fremont Brewing (Seattle, Washington) – The Tax Cuts and Jobs Act allowed the company to expand healthcare benefits to employees’ dependents. “We’ve got young people that are getting married and having families, and they are needing benefits,” said co-founder Sara Nelson. “So we decided that we would extend health benefits to the dependents of those families.”

LiDestri Food and Drink (Rochester, New York) – The Rochester-based producer of food, beverages, and spirits gave all of its 1,200 employees at each of its five U.S. facilities an extra full paycheck. “When we learned that the recent tax cuts would provide the company with some unaccounted for funds, we immediately thought it should be shared with our workforce,” said Co-President Stefani LiDestri. “It just so happened that it came together on Valentine’s Day, the perfect time to let our employees know how much they mean to us.” 

Lima Pallet Company (Lima, Ohio) – Lima business owner Tracie Sanchez said the tax cut has helped her business: providing pay raises, adding 15-20 jobs, and finishing a half-million-dollar expansion project.  “Within probably the first week, we ended up giving all of our employees a raise, which has been much needed,” said Sanchez. “We haven’t been able to do that for several years in a row. We also invested in some equipment. We hope to have that hooked up here within the next 30 days.” 

Miles Fiberglass (Oregon City, Oregon) – Lori Miles-Olund, who is the president of the family-owned business that her father founded in 1963, explained that Miles Fiberglass gave pay increases, hired more employees and implemented profit sharing bonuses for existing employees: “We increased our starting wage by 9 percent, which bumps everyone up the chart,” Miles-Olund said. “We’ve also implemented a new training program, ‘Learn to Earn.’ Every time employees learn a new skill, they get an hourly pay increase of $1.00, $1.50. We also anticipate implementing our bonus program again this year.” 

Right Proper Brewing Company (Washington, D.C.) – The Tax Cuts and Jobs Act allowed the company to keep beer prices low: Co-owner Leah Cheston said, “It’s prevented us from having to raise prices because everything increases constantly. To get that break is great. As a small business, every little bit counts.” 

Rockford Ball Screw (Rockford, Illinois) – Linda McGary, head of the manufacturing firm her father launched in 1973, hired 25 new employees and expanded the company plant by 30,000 square feet.

Royal Hawaiian Heritage Jewelry (Honolulu, Hawaii) – Royal Hawaiian Heritage Jewelry, in business for about 40 years, will open additional retail locations. Owner Jackie Breeden said, “I’m from Kauai so I would like to open up a shop back on the island of Kauai and on the west side of Honolulu as well, and be back in Maui. Before we were on all the islands.”

Sewickley Spa (Sewickley, Pennsylvania) — Dorothy Andreas, owner of Sewickley Spa, provided pay raises of 2.5 percent on average to employees. “My staff needed a morale booster,” said Ms. Andreas. “I just want to put it all back into my company. It feels like the government wants to see small business succeed and it’s like a breath of fresh air into a very stale climate.”

SmithCraft Signs (Phoenix, Arizona) – Nicole Bergstrom, owner of SmithCraft Signs, gave out bonuses and invested in new equipment. She told President Trump at the time, “I’m Nicole, and I run Smithcraft Signs. We are a veteran-owned, small manufacturing company.  We’re a job shop. And what tax reform means for me is what we can do for our team.  To improve our capabilities, we’re buying new equipment.  We issued a special bonus to our midlevel employees. Deeann, in our accounting department told me that she is using the extra money for what she describes as a “dream bucket-list vacation” to visit her daughter who was recently discharged from the Navy who is now in Hawaii. Phil and NOAZ is using the money for a bathroom remodel he has been planning for over 10 years. I’m very excited about what the future holds for us.  And again, so many thanks.”

Solscapes (Lecompte, Louisiana) – Iviana Stewart, owner of Solscapes, which provides landscaping services for utilities and energy companies, said the tax cuts will mean that the large equipment purchases (around $500,000) will now be entirely deductible. “Now there’s more money in my pocket so I can grow my business and facilitate addition,” she said. “I can create more jobs. I can buy more equipment. I can expand.” 

Sports Clips (Richmond, Virginia) – Debra Sawyer, franchisee, explained that they would expand operations and hire new employees: “I’m a franchisee. I have 20 open locations and I have my 21st location that will open sometime this summer. Earlier this year I already bought out one of my friends in Florida. She wanted to relocate to the Carolinas to be closer to her kids. So I’m very grateful that the new tax law allows us that clear opportunity to write off not only newly acquired assets that are a brand new purchase but also ones that are used when you’re buying an existing business out from someone else…”

Sawyer added, “And then after the [tax reform] bill was passed and I was kind of looking at my tax situation another opportunity came to me to go for my 22nd location. I went ahead and took that because I was comfortable with the tax write offs that I could do. That lease is with my attorney right now for review and I’m hoping to get that location open as well which will let me promote one of my assistant managers to manager, and it will also let me hire at least ten more employees.”

The Wilson Construction Co. (Canby, Oregon) – Stacy Wilons of the Wilson Construction explained that the family-owned, nationwide company expanded its workforce and increased wages, bonuses, and benefits. Wilson said her company has been able to invest more in itself and its employees. “We are looking to grow 30 to 40 percent more in employees in just the next few months. Thanks to Mr. Trump and the tax reforms and general confidence in the economy, we have been able to invest more in our employees and grow our company in the last year.”

Wilson added, “We’re investing in employee wages and benefits and bonuses. We’re spending millions on equipment and assets. And in general, we’re just seeing a huge increase in work that is coming out because utilities are spending more to update this aging infrastructure.”

Threadbare Cider & Mead (Pittsburgh, Pennsylvania) – Meredith Meyer Grelli, co-owner at Wigle Distillery and Threadbare Cider & Mead, said, “Every dollar goes back into the business. And I think every small-business owner in the world can relate to that.” Pittsburgh’s Wigle Whiskey Distillery produces a variety of small-batch whiskeys at its Strip District distillery. The 2017 tax relief allowed the business to immediately hire three distillers: “It takes a year to train a new distiller, for them to be fully independent, safely operating a still. So for every new distiller we bring on, we’re investing a year into them. If this tax relief went away and our taxes did go up 400%, we couldn’t grow our labor force in the same way. And we’d have to be much more careful about how we hired, because it is such a risk.”

Winton Machine (Suwanee, Georgia) – This family-owned maker of tube-bending machinery expanded its machinery: “Tax reform is enabling companies to make significant capital investments, and it’s creating more business for us and other small manufacturers,” said co-founder Lisa Winton. “We’ll be replacing two machines in our factory,” she said.

There are many more stories from small business owners across the country, as Americans for Tax Reform assembled.

IWFeatures spoke to several women Lana Pol and Jolene Riessen about their concerns if the 2017 tax cuts are allowed to expire in the series Earn More, Pay Less.

If the 2017 tax cuts delivered so much good for workers and their families, imagine what the Big, Beautiful Bill will do.