If you're a small business owner - - or know someone who is - - the next 2 minutes could end up saving you a lot of money.

Lets get straight to channel 5's frank mccaffrey - - live in the studio.

Frank, you learned about this after meeting a local business woman?

Marta barker has been running a small business in the valley for three years.

She says it was a dream of her's to run a spa and salon.

Marta barker tells us she's learned one thing since opening up shop, the business of beauty can get ugly.

Marta barker, harlingen business owner, "the economy is slow and the business is hard to get some people in."

Frank mccaffrey, reporter, "barker says that running a business here in the valley and making money is tough enough as it is.

Then you add taxes to the mix and with taxes it's harder to hire people.

" marta barker, harlingen business owner, "i have two people full-time right now.

But it's struggling."

Barton says a tax break would free up some money from her bottom line.

She says it would make her consider hiring some new staff and possibly expand.

Marta barker, harlingen business owner, "if we have less taxes, we could afford a lot more employees.

More people coming in, yes sir."

Channel five news reached out to the internal revenue service to see if there is relief in store for barton.

Irs spokesperson raphael tulino says, with the new tax season approaching, the new federal tax cuts and jobs act is now offering a significant twenty percent tax cut on income for small business.

Tulino notes all barker has to do is alert the accountant her business works with.

On the phone: raphael tulino, irs spokesman, "based on their situation in working with that tax professional, they should be able to claim and take advantage of any and all of these deductions that are allowable per the law based on their situation to reduce the taxes that they pay and that's the whole point."

Tulino says not only should barker alert her accountant, but she should study up on the new small business tax laws.

Barton tells us she will call her accountant this week and ask them to look into the laws.

Then she will look into hiring new workers.

Live in the channel five news studio, frank mccaffrey, channel five news at five small business makes up a huge portion of the valley economy.

This is a channel five news extra.

Sergio contreras, president of the rio grande valley partnership, tells us small business bring close to 80 percent of the business income in the rio grande valley.

He adds there around 128,000 small businesses in the valley and they generate about $8 billion to the valley economy per year.

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