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Cosmetics Entrepreneur Says the American Jobs Act Will Enable her to Reinvest Tax Savings and Grow More Quickly
October 11, 2011
04:45 PM EDT
Jane Iredale says that the American Jobs Act "will make a significant difference to my company and our family of 160 employees. By cutting my employees' payroll taxes in half, they will be able to use the extra money for help with mortgages, rents, fuel bills and college tuitions. Happy employees are productive employees. Cutting my company's payroll taxes in half will allow me to put those gains back into the company to aid with growth. We will also be able to continue hiring because of the elimination of payroll taxes for new hires and wage increases up to $50 million."
But the payroll tax holidays are not the only provision of the President's plan to immediately put workers back on the job and put more money in the pockets of working Americans that will benefit Iredale's cosmetics company, the 100% depreciation deduction for qualifying investment will also help her bottom line. "We are currently renovating a building that will become our global headquarters. By extending the deductions for the purchasing of new equipment and machinery, we will be able to outfit the building in a timely fashion."
Iredale’s mineral makeup is sold online and at high-end stores like Nordstrom, quite a departure for a former theatrical casting director. After years spent on sets with renowned beauties like Lauren Hutton, Jaclyn Smith and Sarah Jessica Parker, Iredale identified a gap in the market for makeup that was actually good for the skin, having seen firsthand how heavy makeup could damage her clients’ skin, and sometimes their careers. She launched her eponymous line from her kitchen in 1994 which includes products from foundation and concealers to eyeliner and mascara.
By understanding the power of proper marketing, Iredale pitched and sold her products to dermatologists, plastic surgeons and skin care specialists who understood its value. This innovative thinking and business-savvy resulted in skyrocketing sales, both in the US and overseas. In addition to providing jobs for her 160 full time employees, Iredale’s business invigorates the economy throughout the Berkshires in Massachusetts, as over 1,000 people visit her offices for meetings and trainings each year.
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