Through the National Association of Women Business Owners and the Small Business Advocacy Council, I have been involved in tax issues on the state and Federal level.
The favorable 2017 law changes that are keeping taxes low for all income levels are set to expire after 2025. We expect the incoming administration to renew many of these tax laws.
We are also advocating for changes in tax laws enacted in recent years that will help small business if repealed. One example is canceling the limitations on net operating loss deductions affecting tax years from 2021 forward.
