It’s International Women’s Day! Here Are Tax Breaks for Women Business Owners
March 8, 2017 : Allie Freeland – Contributing Editor
It’s International Women’s Day, a day to celebrate the social, economic, cultural, and political achievement of women throughout history. From awareness raising to concrete action, this special day addresses the contributions women make to the world.
Women in the Workforce
Part of International Women’s Day is committed to helping women reach their personal ambitions in the workplace. Women have come a long way over the course of the years. In fact, according to the U.S. Department of Labor, woman make up 48% of the workforce today (in 1948 women made up roughly 29% of the workforce), around 36% of non-farm, privately-held businesses are currently woman-owned, and nearly 9 million Americans are currently employed by women.
In fact, women are the fastest-growing sector to lead businesses. Overall, the number of women-owned businesses grew almost 75% in the past thirty years — a rate that is 1.5 times the national average, according to the “2016 State of Women-Owned Businesses Report“.
So, you are a female business owner… What does this mean to you from a tax perspective?
There are $1.6 trillion in receipts generated annually by women-owned businesses; presenting the opportunity for female entrepreneur or business owners to capitalize on tax breaks. View the following infographic to get more details!
The World Economic Forum predicts the gender gap won’t close until 2186. Today and beyond is an important catalyst to drive change for women in the workplace. Follow along in the conversation on International Women’s Day social media at #BeBoldForChange.