Small businesses promote Trump's tax reforms, but some merchants want more

However, in the wake of the new law, taxes have not taken the first place since December 2017, the concerns raised by the skilled labor and the administrative hbadles imposed by the government. ; taking.

Views on the benefits of tax reform have also weakened somewhat, despite the renewed confidence it has generated, according to CNBC and SurveyMonkey data. In the first quarter of 2018, 46% of small business owners said that the government's tax policy would have a positive effect on their business over the next year. In the fourth quarter, that number had fallen to 31 per cent – the lowest in two years since polling began.

The 20% deduction of qualifying companies used by Pol and other reputable companies to reduce their taxes this year ends in 2025, unless Congress acts to make it permanent. The deduction is capped at $ 157,000 for individual filers and $ 315,000 for joint filers, as well as at certain types of businesses that exceed this threshold. Companies also enjoyed a permanent tax rate of 21%, while pbad-through business owners could reach rates of up to 29.6% – so the parity between large and small small businesses for which small business groups had been fighting for a long time did not materialize.

"We have set the stage for small business parity, but we have not done it, so large corporations earning millions of dollars have lower tax rates than many smaller ones. businesses that work well, "Todd said. McCracken, President and CEO of the National Small Business Association. "And we do not think it's right, we want permanence – that's our motto from the beginning – simplify, bring us parity and give us a certain level of stability and permanence."

And for this reason, Pol admits that although her optimism is high, she is concerned about the future. She recently expanded one of her businesses with a new 40,000-square-foot warehouse and said that business in the area was strong. But planning is difficult without permanent tax cuts. In fact, she recently went to testify on behalf of ONIF at Capitol Hill on the positive impact of the new law on her business. During his stay there, Pol also urged Congress to ensure that these provisions benefit from a permanent element of the tax code.

"Business in this area seems really booming, what I hear and what I see and what I see is that people are getting a little worried because the provisions are not permanent. I think there is great optimism for at least the next two, three years here, and after that, I think people will start to worry a little bit more, "Pol said.