6 Ways Restaurants Could Benefit From Trump’s Tax Plan
President Trump’s new tax plan is aiming to generate businesses in all industries, including the restaurant industry.
In an article from Restaurant Business Online, author Peter Romeo writes, “President Trump outlined his plan yesterday for fundamentally rewriting federal tax regulations, an overhaul he praised as a boon to consumers and businesses alike”.
In the article, Romeo discusses 6 ways the restaurant industry will be impacted:
- Rolling back rates for S-type corporations
- Lower corporate rates overall
- Big breaks on equipment updates
- Defanging the estate tax
- Recovery of overseas revenues
- More disposable income for consumers
Romeo continues, “But the early indications won praise from the restaurant industry. “The National Restaurant Association applauds the tax reform framework released moments ago,” Cicely Simpson, executive vice president of public affairs for the National Restaurant Association, said yesterday in a statement”. How will your restaurant benefit?
To read more, see the full article from Peter Romeo in Restaurant Business Online.