Taxes have routinely been a top issue for small business owners for decades, and with inflation and the tight labor market cooling off, taxes once again return as the greatest concern. In an op-ed for RealClearMarkets, Peter Hansen, NFIB Director of Research and Policy Analysis, explains why NFIB research shows taxes are small business owners’ single most important problem and provides an update on the Small Business Tax Deduction.  

Skilled labor and inflation have been at the forefront of priorities for small business owners for the past seven years. As these issues ease, and with the Small Business Tax Deduction set to expire at the end of the year, taxes have once again become the top concern for small businesses.  

Broader economic conditions dictate most of the rankings, but it’s not a coincidence that taxes fell from being the top concern for small businesses exactly when the Small Business Deduction was put into effect by the Tax Cuts and Jobs Act in 2017. To avoid a serious regression, Congress needs to permanently extend the Small Business Tax Deduction. The One Big Beautiful Bill Act, which makes the Small Business Deduction permanent, is currently still under consideration. Members of Congress need to act fast to prevent a massive tax hike on small businesses nationwide. 

Read the full op-ed for more information on small business priorities and learn more about the Small Business Deduction and the uncertainty its expiration continues to cause for small businesses.

Take Action: Tell Congress to make small business tax savings permanent!