A Columbia County Commissioner and Professional Accountant, this week, testified to the Congress to request lawmakers to deduct permanent taxes to benefit small businesses.
The testimony of Allison Sophie’s testimony before the House’s Wes and Men’s Committee was part of a public meeting titled “The need to be permanently deducted in the Trump tax for working families”.
The appearance of the couch Is marking the third time In two years He has testified About a part of the tax deduction and the job act in front of the committee.
If eligible business income deductions, Section 199A is also known as deductionAccording to the Sophie, sunset is allowed at the end of 2025 at this time, its absence will be a burden for small business owners.
He said on Wednesday, “In my April 2023 testimony, I emphasized the need to work for the Congress to protect 20 % of the small business.” “In this testimony, I said that the tax burden on small businesses was already incredibly heavy and allows the deduction to end when it has been in its place for many years, it will not feel like sunset, but like a tax increase.”
A The study of September 2024 The National Federation of Independent Business has concluded that if section 199A deduction is permanently created, small businesses can increase the country’s gross domestic production every year for the next decade by $ 75 billion. This will have an impact every year every year.
