Brad Close, President of the National Federation of Independent Business (NFIB), recently spoke on WCCF-AM 1580 in Fort Myers. He discussed the potential impact of an impending tax increase on small businesses in Florida and advocated for making the 20% Small Business Deduction permanent.
The deduction, introduced as part of the 2017 tax law, aims to create a fair competitive environment between small businesses and larger corporations. According to Close, this deduction has been crucial for small business owners navigating economic challenges over recent years. However, it is set to expire at the end of 2025.
Close highlighted that the Main Street Tax Certainty Act could prevent a significant tax increase for many American small businesses by ensuring this deduction remains in place. He urged listeners and stakeholders to support legislative action before the deduction’s expiration.
For more information on this topic, individuals are directed to visit www.smallbusinessdeduction.com.
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