The National Federation of Independent Business (NFIB), a prominent small business advocacy group, recently hosted an event in collaboration with The Hill. The gathering included small business leaders, tax experts, and policymakers who discussed the implications of the Small Business Deduction and its potential expiration.
Among the participants was Alison Couch, a Georgia-based small business owner. Couch owns Ignite Accounting & Business Advisors located in Harlem. She shared insights on how the end of the 20% Small Business Deduction could affect Main Street businesses, their employees, communities, and the broader U.S. economy.
Couch emphasized the significance of this deduction: “[The Small Business Deduction] is such a widespread benefit. The deduction itself has been most beneficial when you compare it to things like depreciation or other tax credits that affect a specific industry. This is something that is more widespread horizontally and vertically when you look at small business owners.”
She further elaborated on its impact: “The Small Business Deduction provides the opportunity to free up cash flow. That cash flow enables you to make capital investments and hire employees, and that’s very important for small business owners and having the ability to have the funds to do those types of investments.”
For those interested in her full remarks and details from the event, a recording is available online.
