Brad Close, President of the National Federation of Independent Business (NFIB), recently appeared on WCCF-AM 1580 in Fort Myers to discuss the importance of making the 20% Small Business Deduction permanent. He emphasized that Congress should act to prevent an impending tax hike on Florida's small businesses.
"The 20% Small Business Deduction was created as a part of the 2017 tax law to level the playing field between small businesses and larger corporations," Close stated. This deduction has helped small business owners navigate economic challenges over recent years but is set to expire at the end of 2025. The Main Street Tax Certainty Act aims to make this deduction permanent, thereby avoiding a significant tax increase for many American small businesses.
Close urged listeners to take action by contacting their lawmakers to support the Main Street Tax Certainty Act before the deduction expires in 2025.
Further information can be found at www.smallbusinessdeduction.com.