5 Ways You and Your Business Can Benefit from The Tax Code
Are you aware of the additional benefits that the massive changes in US international tax provisions can provide to you? Most companies are still trying to breakdown and understand the changes in the tax code so these opportunities are not widely discussed yet but they are coming and you can get a head start on everyone else.
The major impact of the change in US international tax provisions will most likely lead to more companies bringing tons cash and resources back to the US (some of the reasons are lower onetime tax rates, rising cost in international markets, improved technology and product delivery). With billions of cash and resources coming back to the US companies will have to make decisions to determine what the money will be used for and this is where your opportunities come in.
When companies have extra cash there are a few things they typically do with the excess so here is a list along with some ways you can possibly benefit from this happening:
Capital Expenditures- purchasing large machinery, buildings and resources to help grow their business. An opportunity for you here is to find a capital expenditure type item that you can sell to other corporations. Let’s say you work in sales, finding a company that sells capital assets maybe a great idea because a good sales person can make a fortune helping companies get the equipment they need.
Product and service purchases – if you are in the business of selling products and services to other businesses there is an increased potential of more sales. Start networking and figuring out what the multi-national companies need that you can provide. Most large companies have a special budget for supporting smaller and local businesses so make sure you get your businesses name in the mix.
Employee Compensation – companies can use the extra cash to give raises or one time bonuses. If you are good at your profession asking for a raise (or quoting at a higher price) maybe easier than you think. Start building your case now on why you are valuable to your organization and why you deserve a raise.
Stock buy backs or dividends– a quick way for corporations to help raise their stock price is to buy their own stock back from the market. This can be great news because stock prices could go up or companies could pay out more in special dividends to the shareholders.
Acquisitions – a very popular option would be to buy another company to keep growing. This is why Unilever (maker of Dove, Axe, Vaseline and many more) paid $1 billion to buy a shaving company from a non-famous California native.
So in summary the changes are real and some companies are going to have deeper pockets filled with more cash and they want to do something productive with it. The best things you can do for yourself is make a list of companies that your product, service, talent and skills can help then start networking to meet somebody at those companies then offer to help them with something they care about. A mentor once told me “the way I became a millionaire is I found enough people that I could help with what I had to offer.”
For more ideas and tips that can help you; like the Facebook page @TLTurner Group, follow @60secondmoney on Instagram or check out the podcast 60 second Money especially the crazy business idea segments (ideas that help you win with money).
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