In order to continue growing and expanding, small businesses need the certainty that comes with tax relief. The Small Business Deduction, which is set to expire unless Congress takes action, is a critical measure that provides this certainty. NFIB President, Brad Close, highlights the importance of making this deduction permanent so that small business owners can make decisions about their future without worrying about unexpected tax increases.
Without the Small Business Deduction, small businesses may have to restrict their growth, investment, and hiring plans. To advocate for this important measure, over 100 NFIB members will be meeting with legislators in Washington, D.C. next week. Small business owners are encouraged to join this effort by flooding Congress with emails explaining why saving this deduction is crucial.
One small business owner who has benefited from the Small Business Deduction is Michael Ervin, owner of Coal River Coffee Co. in WV. Since 2018, small businesses have been able to deduct up to 20% of their qualified business income, resulting in savings that have allowed them to grow and expand. These savings have allowed Michael to invest in his business, employees, and community. By working together to advocate for the Small Business Deduction, small businesses can ensure that they continue to receive the support they need to thrive and succeed.
