American small businesses have been scrambling to finish their tax returns ahead of Tax Day.
New Job Creators Network Foundation polling indicates this is no small task. Most small business owners spend at least 12 hours preparing and filing taxes, with one-fifth of respondents spending at least 36 hours. The hours and resources it takes small businesses like mine to file is time that otherwise could be spent making our businesses more productive and successful.
But things could get far worse in the years ahead with the pending expiration of the Tax Cuts and Jobs Act (TCJA). Taxes are already a headache. Lawmakers shouldn’t allow them to become a migraine.
For small businesses, the Tax Cuts and Jobs Act, which President Donald Trump signed into law in December 2017, was nothing short of transformative. Provisions, including a 20 percent pass-through deduction and immediate…
