Chances are, like most woodshop owners, you know that some jobs make a big profit and others don’t, and you hope by the end of the year that you’re ahead of the game. But do you know which is which, and why?
Are you ready for tax reform? Thanks to the recently passed Tax Cuts and Jobs Act (TCJA), the tax rate for incorporated shops will be reduced from 35 to 21 percent for the 2018 tax year and beyond. The news isn’t as good for pass-through businesses.