Latest Tax Reform News
Tax reform is working, says NFIB members. In a recent study conducted by the NFIB Research Center, NFIB members reported the Tax Cuts and Jobs Act is having a positive effect on their business. With the tax savings, small business owners are planning to invest in hiring and to increase employee compensation. See the study here >>
Tax relief is also driving record optimism about the economy among small and independent business owners. Sales are strong, profits are good, and employee compensation is increasing. And many are planning to expand. NFIB President Juanita Duggan recently penned an op-ed for The Hill on the topic. Read it here >>
Do you have questions about the 20 percent small business deduction or other elements of tax reform? Read NFIB’s FAQs here >>
For a more detailed explanation of small business and tax reform, watch NFIB’s recent webinar >>
NFIB members have a front-row seat to the latest tax relief information. Legislators are in their hometowns talking up tax reform, and many of these events are at NFIB member businesses. The President even visited one business owner! Click on an event below for more.
President Trump visits Pittsburgh-based NFIB member H&K Equipment
Senator Rob Portman, Ohio, visits NFIB member business Bruns General Contracting
Senator John Cornyn, Texas, talks taxes with members over milkshakes
Need a summary of the new tax law? The congressional Joint Committee on Taxation published an Overview of the Federal Tax System As In Effect for 2018.
The Internal Revenue Service has released Notice 1036, which updates the income-tax withholding tables for 2018. Employers should begin using the 2018 withholding tables as soon as possible, but not later than Feb. 15, 2018. Learn more about the new withholding tables with these FAQs.
Many small business owners can expect tax relief now that reform is a reality. The Tax Cuts and Jobs Act is the biggest tax reform package in more than 30 years. Learn more about key small business provisions in the law.