There are many factors that individual voters will take into this consideration this November before casting their ballots for president. Israel. China. Ukraine. School choice. Abortion. Government services. Worker protections. Age. Personality. The list goes on. We all have our priorities.
But if you're a small-business owner like me, the amount that you pay in taxes every year is also a very big consideration.
I see some of my clients paying anywhere as much as 30 percent of their income in taxes, between federal, state and local requirements. Regardless how you may feel about social issues or whether or not you support Ukraine, tax policy is an issue that directly affects us.
And regardless of how you may feel about likely Democratic nominee Kamala Harris, there is one thing that cannot be disputed: small-business owners will pay a lot more in taxes if she is elected.
Harris, like President Biden, supports the expiration next year of many key elements of former President Trump’s signature piece of legislation: The 2017 Tax Cuts and Jobs Act, or TCJA.
If the provisions that are part of this legislation are allowed to expire, the biggest impact on small business owners will be the loss of the Qualified Business Income Deduction, which has been a huge benefit to the tens of millions of........