Rushmore State News

Argus Leader recently featured an op-ed by Steve Flanagan, the owner of Blue Light Investigations in Sioux Falls, South Dakota. Flanagan is also a member of the National Federation of Independent Business (NFIB). In his piece, he calls on Congress to make the small business deduction permanent. This deduction was part of the Tax Cuts and Jobs Act of 2017 and is set to expire next year unless extended by Congress.

Flanagan emphasizes that “essentially none of our politicians are talking about the fact that small businesses like mine are about to face one of the biggest tax hikes in history. If they don’t take action, we’re about to be devastated, and so will the communities we anchor.”

He further explains that “this massive tax hike will take effect next year, which in the world of small business, is basically tomorrow. That’s when many of the 2017 tax reform’s provisions will expire, including the all-important Small Business Deduction, which lets job creators like me deduct 20% of our income. This tax cut helps put small businesses on a level playing field with big corporations."

Flanagan points out that "big corporations got permanent relief in 2017, while small businesses had to settle for temporary savings.” He concludes by stating: “I don’t want to make these tough decisions. No small business owner does. But a tax hike forces our hands. After getting my business off to such a great start, a tax hike would suddenly hold us back. Not only is that wrong, but it’s deeply unfair. No big business is staring at a tax hike next year—just small businesses like me.”

The full op-ed can be accessed through Argus Leader's website.