Hartford Business Journal

www.HartfordBusiness.com • July 16, 2018 • Hartford Business Journal 19 show them how it may impact their day to day," Guy said. "With the basic corporate tax rate going from 35 percent to 21 percent, more income may be available. They may have more cash and less to borrow. Our business clients need to know what is deductible and how much is deductible, with their business and individually," he said. "Paying less to Uncle Sam may mean additional money to purchase assets and fund growth." First Things First A logical first step for businesses looking to get an idea of how tax reform will impact their companies is an appointment with their accountant, Bergstrom said. For clients who don't have an accountant, the bank has accountants it regularly partners with and is happy to make those introductions. Bergstrom recommends owners start there, a good beginning in tax-reform considerations that will provide focus and clarity. A company's business structure — whether it is an LLC, C-corporation or S-corporation, for example — is a main factor in reviewing how tax reform may impact that particular organization and its future. "They seek a clear understanding based on corporate structure as they plan out their year relative to compensation, capital spending, expansion and additional hiring," Bergstrom said of business owners, knowledge and advice that is all in a professional accountant's wheelhouse. As for Webster Bank, its team looks to not lead a discussion of tax-reform and its effects on its client businesses, but rather, to be a part of the expert team behind each client to ensure they get information they need to make decisions. The bank sees its role as knowing and meeting the needs of its clients, especially where it pays to be proactive. It just makes good business sense. "We look to add value where we can, to be part of a relationship. Our reputation is not built on us selling something. It is part of our community calling — to be there for clients and help them understand the environment they find themselves operating in," said Guy. And connecting business owners with financial experts is part of a larger bank commitment that goes beyond just the issue of tax reform. www.HartfordBusiness.com • July 16, 2018 • Hartford Business Journal 21 | Webster Bank's role is to connect business owners with financial experts in tax reform -- or any areas where they benefit from being proactive and informed. | Sponsored Content WEBSTER BANK INTELLIGENCE SERIES | John Guy Jr., director of business banking, Webster Bank | | Tim Bergstrom, regional president and head of business banking for Webster Bank, Connecticut | Continued >

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