The Washington Times recently featured an op-ed by Alison Couch, a small business owner and President of Ignite Accounting & Business Advisors in Columbia County, Georgia. In her piece, Couch calls on Congress to make the 20% Small Business Deduction permanent and reduce regulatory burdens affecting small businesses.
Couch emphasizes her extensive experience in public accounting, stating: “I have practiced public accounting for 21 years and can tell you without doubt that the 20% Small Business Deduction has been the single most beneficial tax deduction for small business owners.”
She further notes her direct communication with Congress, sharing: “This is the message I personally delivered to Congress as someone who works with true American small business owners every day. My own small business, Ignite Accounting & Business Advisors, is an accounting firm based in Columbia County, Georgia where my small-but mighty-team nurtures other small businesses. We’re talking about coffee shops, ice cream shops, restaurants, professional service business owners – the real heartbeat of the American economy.”
Couch highlights concerns regarding the expiration of critical parts of the 2017 tax cuts at the end of this year. She states that her clients are uncertain about whether key provisions like the 20% Small Business Deduction will be extended. This deduction allows for a 20% reduction in qualified business income. Couch warns that letting this deduction lapse would not merely feel like a sunset but resemble a tax increase due to the already heavy tax burden on small businesses.
On January 14, Couch testified before the U.S. House Ways and Means Committee during a hearing titled “Hearing on The Need to Make Permanent the Trump Tax Cuts for Working Families.” She spoke about how beneficial the 20% Small Business Deduction is for Main Street businesses like hers and those she serves.
The deduction was introduced as part of the 2017 tax law to provide parity between small businesses and larger corporations. If no legislative action is taken by Congress, taxes could rise for over 30 million small businesses by the end of 2025. The Main Street Tax Certainty Act aims to make this deduction permanent to prevent a significant tax increase for many American small businesses.
Readers can access Couch's full op-ed through The Washington Times website.
