New advertisements feature small business owners explaining the importance of Small Business Deduction
WASHINGTON, D.C. (Dec. 1, 2022) – The National Federation of Independent Business (NFIB), the nation’s leading small business advocacy organization, announced today a new national multi-million-dollar advertising campaign featuring small business owners explaining the importance of making the Small Business Deduction permanent.
“The Small Business Deduction, created to bring small businesses’ tax rates closer to that of their large, corporate competitors, has been a crucial component of the 2017 tax cut law, especially during the pandemic. It has allowed small business owners to invest in their employees and business operations and plan for the future,” said NFIB President Brad Close. “While Congress made the 21% corporate rate permanent, it let the Small Business Deduction expire after 2025. It is critical that Congress make the Small Business Deduction permanent.”
The Small Business Deduction (Section 199A) allows small businesses to deduct up to 20% of their qualified business income. NFIB members Coal River Coffee and Devil’s Due Distillery explain how the Small Business Deduction has benefited their businesses and why they need the deduction permanently.
Watch Small Business Coal River Coffee here:
Watch Small Business Devil’s Due Distillery here: