News Summary
The National Federation of Independent Business has introduced two digital tools to support Texas small businesses. An interactive map visualizes the potential impact of the 20% Small Business Tax Deduction, showing potential job creation and GDP growth. A tax calculator helps business owners anticipate changes in federal income taxes as the expiration of this deduction nears. With an estimated loss of 200,000 jobs and a $12.5 billion GDP reduction possible, the tools are crucial for business planning. The NFIB also supports new legislation providing tax relief to millions of small business owners.
Exciting New Tools for Texas Small Businesses!
Hey there, Texas! Are you a small business owner, or maybe someone who’s just curious about the impact of taxes on our economy? Well, get ready to dive into some great news! The National Federation of Independent Business has just rolled out two nifty digital tools aimed at shedding light on the benefits of the 20% Small Business Tax Deduction. These tools are here to help you understand just how important this deduction is for business owners like you and the economy in Texas.
Explore the Interactive Map
First up, let’s take a look at the interactive map. This isn’t just any map—it’s a powerful tool that lets you see the potential impact of extending that tax deduction, district by district, all across our beautiful state. Imagine being able to visualize how keeping this deduction could lead to job creation and GDP growth right in your own backyard!
According to the data, if this deduction is continued, we could see the creation of over 200,000 jobs and an impressive growth of $12.5 billion in GDP over the next ten years. That’s not just numbers; that’s people getting back to work and businesses flourishing!
Crunch Some Numbers with the Tax Calculator
But that’s not all! The second tool is a tax calculator that gives small business owners a sneak peek into their financial future. As we move toward 2026, if the Small Business Tax Deduction doesn’t get made permanent, you might be in for a surprise—or not the good kind. The calculator shows potential increases in federal income tax for small businesses, allowing you to plan ahead.
For instance, if you’re a Texas small business owner earning around $75,000 with a qualified business income of $150,000, you might face a staggering tax increase of over $13,000 if the deduction goes away. That’s a chunk of change that could affect your ability to grow your business and hire more employees.
Why This Matters for Texas
The push for extending this deduction is critical because, without it, millions of small businesses may experience a hefty tax hike. This uncertainty can lead to fewer jobs and could stifle economic growth. It’s not just a number on a spreadsheet; it’s about the livelihoods of people in our communities who depend on small businesses.
Cheers to New Legislation
Adding to the excitement, the NFIB has also expressed support for the U.S. House passing the One Big Beautiful Bill Act. This legislation promises to provide tax relief to over 33 million small business owners. That’s the kind of news that should put a smile on every small business owner’s face!
Get Involved!
If you’re interested in diving deeper, these tools are available online. Whether you’re advocating for small businesses or just looking to stay informed, these resources are at your fingertips. To check out the interactive map and tax calculator, head over to www.SmallBusinessDeduction.com.
So, let’s rally together and ensure that our small businesses get the support they need to thrive. Your voice matters, and now you’ve got the tools to help make a difference!
Deeper Dive: News & Info About This Topic
- NFIB News: Texas Small Business Owner Featured in New NFIB TV Ad
- Keatax: Texas House Passes Major Business Tax Relief – What’s Next?
- Dallas News: Texas Small Businesses Deserve a Break from Peculiar Property Tax
- Business.com: Why Start a Business in Texas?
- Spectrum News: HB-9 Small Business Tax Relief
- Wikipedia: Taxation in the United States
- Google Search: Texas Small Businesses Tax Relief
- Google Scholar: Texas Small Businesses Taxation
- Encyclopedia Britannica: Business Tax
- Google News: Texas Small Businesses Taxes
