The Small Business Deduction is set to expire in 2025
The National Federation of Independent Business (NFIB), the nation’s leading small business advocacy organization, hosted a Capitol Hill press conference in Washington D.C. last week during its 2024 Small Business Tax Deduction Summit The press conference featured NFIB President Brad Close, U.S. Senator Steve Daines (R-MT), and small business owners who called for passage of the Main Street Tax Certainty Act to make the 20% Small Business Deduction permanent for America’s 33 million small businesses.
West Virginia’s own Beth Michael Ervin, an NFIB member and small business owner of Coal River Coffee Company in Saint Albans, joined the press conference to share how the small business tax deduction has helped small businesses in West Virginia.
West Virginia Small Business Owner Michael Ervin, owner of Coal River Coffee Company in Saint Albans, commented:
“My business actually wouldn’t exist if it wasn’t for the 20% Small Business Deduction. See when Congress passed this deduction in 2017, it gave my wife and I the confidence to start our own business and be a part of the comeback for our small town’s revitalization. For us, community is at the heart of everything we do. We’ve taken the tax savings from our small business and put it right back into the community. We’ve reinvested in our coffee shop, we’ve hired more staff, we’ve opened other small businesses as well. But without Congressional action, the deduction will expire, and we will be hit with a massive tax hike. This will have drastic problems not only for my business, but all of Main Street across America.”
Watch Ervin’s full remarks:
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