Find Out How Extending the 20% Small Business Tax Deduction Impacts Your Business

NEW: Small Business Tax Hike Calculator

America’s small businesses stopped a massive tax hike

The Small Business Tax Calculator offers small business owners a personalized estimate of their federal income tax relief they will see now that the 20% Small Business Tax Deduction and other current tax relief policies were signed into law.

Basic personal information, such as filing status, personal income, and qualified business income, allows users to compare their estimated tax burden under two scenarios: current law, with Congress extending provisions of the Tax Cuts and Jobs Act (TCJA), including the Small Business Deduction, or if Congress had allowed the TCJA to expire.

Find Out How Extending the 20% Small Business Tax Deduction Impacts Your Business

Calculate your estimated income tax before credits in 2026 under two scenarios: (1) the Tax Cuts and Jobs Act (TCJA) is extended, and (2) it is not extended.

Filing Status

Personal Income

Include spouse’s income if filing jointly.

Business Income

Is business income from a professional services business

Professional service businesses include businesses in field of health, law, accounting, consulting, financial services, among others.

Yes

Income reporting

Pre-tax 401(k) contributions

Social Security Benefits

Long-term capital gains and/or qualified dividends

Child Dependents

Non-Child Dependents

Itemized deductions

Medical Expenses

State and local property taxes

Includes property, sales, and income taxes

Mortgage interest

Charitable contributions

Other itemized deductions

Notes:

Personal income refers to income not received through social security, capital gains, or business income. This is often primarily wage and salary income.
This calculator is intended to provide users with a high-level assessment of the impact of the expiring tax provisions, and is not intended to be tax advice. Instead, users should consult with their tax advisors concerning the impact of changes in the tax law.
This calculator includes most aspects of the federal individual income tax code except provisions related to business and self-employed income.
For each case, the model considers both, the standard deduction, and itemized deductions, and accounts for whichever results in higher total deduction.
When adding any social security benefits received, this calculator will automatically assume that the taxpayer qualifies for the additional standard deduction.
Professional service businesses include businesses in field of health, law, accounting, consulting, financial services, among others.
Calculator assumes a limit of $40,000 mortgage interest deduction under current law post-TCJA expiration and $30,000 under TCJA extension.

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Tax Increase if TCJA is NOT extended

How is this calculated?

Income tax if TCJA is NOT extended

Income tax if TCJA is extended

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