Since 2018, nine out of 10 of America’s small businesses benefit from the critical 20% Small Business Deduction.
Unfortunately, this deduction expires in 2025 – while tax cuts established for large multinational corporations are permanent.
It’s time for Congress to protect small businesses – not hike our taxes.
The Main Street Tax Certainty Act
This critical legislation makes the 20% Small Business Deduction permanent.
What does this mean for small businesses?
Pass-through entities (Sole Proprietorships,
S-Corporations, Partnerships, or LLCs) can deduct up to 20% of qualified business income permanently.
Nearly half (48%) of small business owners who currently report uncertainty regarding the expiring provision can feel confident in their current and future plans.
Small businesses can reinvest in their communities and employees – including focusing on hiring and growth.
Prevent an impending tax hike that would further challenge small businesses’ ability to operate and create jobs.
Help us make the Small Business Deduction permanent
Learn more about how we’re fighting for tax fairness on your behalf by scheduling a quick call with an NFIB Rep today.
Podcast
What NFIB Members Are Saying
“This tax relief provides crucial cash flow that allowed us to provide up to $4,000 raises to our employees, the largest compensation increases we have been able to provide in recent years. These raises increased employees’ take-home pay and helped us retain employees. Retaining highly-valued employees is key for our businesses to function.”
– Iowa Small Business Owner
“The ability to keep $5,000 to $10,000 a year in my company is a big deal to a small business owner like me. In fact, since the first of the year, I have decided to expand into a new product line. To launch this product line, I need to purchase new equipment, invest in training, and build a new website. The tax savings has put me in a better financial position to self-fund this new product.”
– Pennsylvania Small Business Owner
Connect With Us
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.@WashTimes published an op-ed from #NFIB member Michael Ervin on the importance of the #SmallBusinessDeduction: “The moment the Small Business Deduction expires, we’ll face a massive tax hike that we can’t afford."
— NFIB (@NFIB) April 20, 2024
Learn more:https://t.co/np4oW2mRAz pic.twitter.com/sV3FAo1sxf -
#NFIB member Michael Ervin testified at the U.S. House Committee on Ways and Means. Ervin spoke on the importance of the 20% Small Business Deduction for #smallbusinesses nationwide. Thank you for championing #smallbiz!
— NFIB (@NFIB) April 18, 2024
Learn more about the issue at https://t.co/PPZNfMNTKM pic.twitter.com/w9rt34UUDL -
.@WSJ published #NFIB President Brad Close's editorial highlighting the significance of the 20% Small Business Deduction for #smallbusinesses nationwide.
— NFIB (@NFIB) April 16, 2024
Read more:https://t.co/AqpR55Lzl9 pic.twitter.com/hMe5kFcigj -
#Smallbusinessowners are fighting for the 20% Small Business Deduction by signing NFIB’s petition to stop the massive tax hike. The petition has officially hit 25,000 signatures and counting.
— NFIB (@NFIB) November 19, 2023
Learn more and join the fight: https://t.co/oBEMBF93qJ -
Small business thanks Senator @JohnBoozman for co-sponsoring the Main Street Tax Certainty Act that makes the 20% Small Business Deduction permanent—a critical step for #smallbusiness growth and job creation.
— NFIB (@NFIB) November 17, 2023
Learn more: https://t.co/PPZNfMNTKM pic.twitter.com/bF4iZD4ioE -
Small business thanks @SenatorRandPaul for co-sponsoring the Main Street Tax Certainty Act that makes the 20% Small Business Deduction permanent—a critical step for #smallbusiness growth and job creation.
— NFIB (@NFIB) November 14, 2023
Learn more: https://t.co/PPZNfMNTKM pic.twitter.com/jkRPJq7OzY -
#NFIB President Brad Close is featured in a FOX News TV package on the importance of making the 20% #SmallBusiness Deduction permanent.
— NFIB (@NFIB) October 3, 2023
Watch the segment: https://t.co/CNF300LiOB pic.twitter.com/DX26rjOrQ2
Since 2018, nine out of 10 of America’s small businesses benefit from the critical 20% Small Business Deduction.
Unfortunately, this deduction expires in 2025 – while tax cuts established for large multinational corporations are permanent.
It’s time for Congress to protect small businesses – not hike our taxes.
The Main Street Tax Certainty Act
This critical legislation makes the 20% Small Business Deduction permanent.
What does this mean for small businesses?
Pass-through entities (Sole Proprietorships,
S-Corporations, Partnerships, or LLCs) can deduct up to 20% of qualified business income permanently.
Nearly half (48%) of small business owners who currently report uncertainty regarding the expiring provision can feel confident in their current and future plans.
Small businesses can reinvest in their communities and employees – including focusing on hiring and growth.
Prevent an impending tax hike that would further challenge small businesses’ ability to operate and create jobs.
Help us make the Small Business Deduction permanent
Learn more about how we’re fighting for tax fairness on your behalf by scheduling a quick call with an NFIB Rep today.
Podcast
What NFIB Members Are Saying
“This tax relief provides crucial cash flow that allowed us to provide up to $4,000 raises to our employees, the largest compensation increases we have been able to provide in recent years. These raises increased employees’ take-home pay and helped us retain employees. Retaining highly-valued employees is key for our businesses to function.”
– Iowa Small Business Owner
“This tax relief provides crucial cash flow that allowed us to provide up to $4,000 raises to our employees, the largest compensation increases we have been able to provide in recent years. These raises increased employees’ take-home pay and helped us retain employees. Retaining highly-valued employees is key for our businesses to function.”
– Iowa Small Business Owner
Connect With Us
Swipe left to see more tweets
-
.@WashTimes published an op-ed from #NFIB member Michael Ervin on the importance of the #SmallBusinessDeduction: “The moment the Small Business Deduction expires, we’ll face a massive tax hike that we can’t afford."
— NFIB (@NFIB) April 20, 2024
Learn more:https://t.co/np4oW2mRAz pic.twitter.com/sV3FAo1sxf -
#NFIB member Michael Ervin testified at the U.S. House Committee on Ways and Means. Ervin spoke on the importance of the 20% Small Business Deduction for #smallbusinesses nationwide. Thank you for championing #smallbiz!
— NFIB (@NFIB) April 18, 2024
Learn more about the issue at https://t.co/PPZNfMNTKM pic.twitter.com/w9rt34UUDL -
.@WSJ published #NFIB President Brad Close's editorial highlighting the significance of the 20% Small Business Deduction for #smallbusinesses nationwide.
— NFIB (@NFIB) April 16, 2024
Read more:https://t.co/AqpR55Lzl9 pic.twitter.com/hMe5kFcigj -
#Smallbusinessowners are fighting for the 20% Small Business Deduction by signing NFIB’s petition to stop the massive tax hike. The petition has officially hit 25,000 signatures and counting.
— NFIB (@NFIB) November 19, 2023
Learn more and join the fight: https://t.co/oBEMBF93qJ -
Small business thanks Senator @JohnBoozman for co-sponsoring the Main Street Tax Certainty Act that makes the 20% Small Business Deduction permanent—a critical step for #smallbusiness growth and job creation.
— NFIB (@NFIB) November 17, 2023
Learn more: https://t.co/PPZNfMNTKM pic.twitter.com/bF4iZD4ioE -
Small business thanks @SenatorRandPaul for co-sponsoring the Main Street Tax Certainty Act that makes the 20% Small Business Deduction permanent—a critical step for #smallbusiness growth and job creation.
— NFIB (@NFIB) November 14, 2023
Learn more: https://t.co/PPZNfMNTKM pic.twitter.com/jkRPJq7OzY -
#NFIB President Brad Close is featured in a FOX News TV package on the importance of making the 20% #SmallBusiness Deduction permanent.
— NFIB (@NFIB) October 3, 2023
Watch the segment: https://t.co/CNF300LiOB pic.twitter.com/DX26rjOrQ2