Michael Ervin, owner of Coal River Coffee Co. in St. Albans and a member of the National Federation of Independent Business (NFIB), went before the U.S. House Ways and Means Committee today to talk about the importance of the 20% Small Business Deduction.
In testimony prepared for the hearing, Ervin writes:
“After the passage of the Tax Cuts and Jobs Act, LLCs, and other passthrough businesses like mine were able to benefit from the newly minted Small Business Deduction, also known as the 199(a) deduction. This provision has allowed me to deduct up to 20% of my business income, which has let me invest in my business, my employees, and my community. However, in less than two years our business will be facing a significant tax hike unless Congress acts to extend and make permanent the small business deduction. Not only will my 20% small business deduction go away, but my marginal tax rates will increase if Congress fails to act.”
While in Washington, Ervin met with legislators including U.S. Sen. Shelley Moore Capito and Rep. Carol Miller of West Virginia’s 1st District.
It was a pleasure having Michael Ervin from St. Albans, WV as a witness at the @WaysandMeansGOP hearing.
The Coal River Coffee Company is a great small business, and I was glad to hear about how the TCJA continues to positively impacts his business and our community. pic.twitter.com/B2TQx9DBp5
— Rep. Carol Miller (@RepCarolMiller) April 11, 2024
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