Unicoi Entrepreneur Featured in National NFIB Video on 20% Small Business Deduction

August 24, 2023

Unless Congress takes action, the deduction will expire in 2025

Unicoi Entrepreneur Featured in National NFIB Video on 20% Small Business Deduction

Renea Jones, co-owner of Jones & Church Farms, an NFIB member business in Unicoi, is spotlighted in a national NFIB video featuring small business owners from across the country explaining the importance of the 20% Small Business Deduction. The 20% Small Business Deduction (Section 199A) allows small businesses organized as pass-throughs (S corporations, LLCs, sole proprietorships, or partnerships) the ability to deduct up to 20% of qualified business income and is scheduled to expire in 2025. In the “In Their Own Words” video, Jones says of the deduction: “It’s bought equipment, it’s helped us give our employees bonuses. We have over 200 employees seasonal, and 25 year-around… It’s helped us provide health insurance for some of our employees … This is very important to small businesses, especially like ours.” Watch the video here. Jones appears at about the 38-second mark: The 20% Small Business Tax Deduction Boosts Reinvestment Opportunities for Small Business Owners from NFIB Video on Vimeo. NFIB recently launched a campaign urging Congress to pass the Main Street Tax Certainty Act, which would make the 20% Small Business Deduction permanent for small businesses. Learn more at www.SmallBizDeduction.com.

Topics:

Uncategorized

State:

Tennessee

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