What it means: Recent Small Business Rundown podcast episodes highlight the importance of the 20% Small Business Tax Deduction to small business owners, how they use it to benefit employees and the community, and an update on the fight to repeal beneficial ownership reporting.

Small business owner take: “Immediately we’ve been able to develop and grow our structure of our team. We’ve been able to provide jobs, we’ve been able to use that [20% Small Business Deduction] to purchase our building. So not only have we been able to develop a little bit of an economy for people, we’ve been able to revitalize not just our economy here but our buildings in our own Main Street. So, we’re buying buildings with it, we’re refurbishing the buildings, and providing better spaces for other entrepreneurs to start a business in our small town,” explained NFIB member Michael Ervin.

Take Action: Urge Congress to make the 20% Small Business Tax Deduction permanent before it’s too late! The deduction will expire at the end of the year without action from Congress, causing a massive tax hike on nine out of 10 small businesses.

New Small Business Rundown podcast episodes focus on the 20% Small Business Tax Deduction and Beneficial Ownership Information (BOI) reporting. These continue to be crucial issues for small businesses and NFIB’s top priorities.

Episode 58: Small Business Tax Priorities with U.S. Rep. Carol Miller

NFIB member Michael Ervin, owner of Coal River Coffee Co. in West Virginia, discusses the role of the 20% Small Business Tax Deduction and what a massive tax hike would mean for his business and employees. U.S. Representative Carol Miller (WV-01) explains her legislative priorities including her view on the Small Business Deduction, and NFIB Vice President of Federal Government Relations Jeff Brabant provides legislative updates on small business issues in Congress.

Episode 59: Key Tax Deduction Expiring Without Congressional Action

NFIB members Kellie Loudin and Tim Corbitt discuss specific ways they use the 20% Small Business Tax Deduction savings and why it is crucial for Congress to make the deduction permanent to prevent a massive tax hike. U.S. Representative Mike Kelly (PA-16) gives his perspective on small business policies in Congress as a small business owner, expectations for the tax bill, and the importance of small business owners getting involved.

NFIB released state-specific reports on the benefits of the Small Business Deduction for the economy in the short and long term.

Episode 60: Beneficial Ownership (BOI) Repeal Update

Beth Milito, Vice President and Executive Director of the NFIB Small Business Legal Center, and Josh Mcleod, Director of NFIB Federal Government Relations explain the recent beneficial ownership victory for small businesses, the current status of the regulatory battle, and what it means for small businesses.

Catch up on the Small Business Rundown and stay up-to-date with resources regarding the Small Business Deduction and BOI. Take Action: Urge Congress to make the 20% Small Business Deduction permanent before it expires this year and over 30 million small businesses face a massive tax hike.