By Shanna Goodman
Did you know that advertising helps generate $52b (or nearly 16% of all economic activity) in Kansas? Did you know that tax reform proposals include reducing the deductibility of advertising as a business expense?
Reducing advertising deductibility would not only negatively impact the ad industry, but also the small businesses throughout the state that rely on advertising to get customers in the door. Think about your small business- if your dental or chiropractic practice could only deduct 50% of your advertising expenses, you’d probably spend less on advertising, right? This would not only lead to decline for ad and marketing agencies, but the number of people seeing your message and making appointments would decline as well.
It’s because of these issues that I am involved with the American Advertising Federation. As the President of the Board for the American Advertising Federation- Topeka, I recently attended the American Advertising Federation event Advertising Day on the Hill where representatives from across the country gathered to learn and advocate for our shared interests.
By all measures, the event was a resounding success. We heard from very intelligent and informed people on the state of tax reform and how it might impact small businesses, as well as other hot topics within our industry.