Tax Portal Draft 01052021 v2

Small Business Tax Dedeuction Section 199A

Latest Tax Relief News for Small Business

For years, small businesses have counted tax issues among five of their top ten problems, according to NFIB’s Small Business Problems and Priorities survey. The tax relief bill presented the biggest tax overhaul in more than three decades, and it dramatically improved the landscape for many small businesses.

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Nullam faucibus ex eget porta ultricies. Morbi a vulputate mauris. Nunc gravida ante ex, in ullamcorper eros pharetra at. Fusce malesuada odio erat, et volutpat nulla elementum fringilla. Praesent aliquam lectus nec.

Top 5 Tax Cut Wins

1.Small Business Deduction:
20% deduction of qualified business income

2.Individual Tax Rates: Reduces individual
rates and expands income thresholds

3.Corporate Taxation: Corporate tax rate reduced to 21% and corporate alternative minimum tax repealed

4.Section 179 Expensing: Raised from
$500,000 to $1 million per year

5.Obamacare Individual Mandate: 
Penalty for noncompliance repealed Jan 1, 2019

© 2001 - 2022 National Federation of Independent Business. All Rights Reserved. Terms and Conditions | Privacy