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Dear Editor:
Readers are well acquainted with the difficulties of this economy. Although the challenges of owning and operating a small business have been exacerbated in recent years, the 20% Small Business Deduction has helped many of us stay afloat. But unlike big box stores, if Congress doesn’t act, small businesses like mine will face a massive tax hike in 2025.
My husband and I started our small business in November 2019, right before the world shut down. We create custom works of art by offering superior service and personalized attention. From one-of-a-kind metal designs to handcrafted wood collectibles, we put our love for art into everything we do.
Here at Twisted Steel Design, we don’t just do custom work. We invite our customers to join in the fun, hosting various workshops and art classes in our community. Not only do these events foster a greater love for art, but they help support fellow small businesses in our area. We donate art pieces to various charitable organizations and collaborate with local business owners to keep our small town vibrant and growing.
This all comes with various challenges. The past few years have been tremendously difficult and at times, downright painful. Between this inflationary economy and the dramatic increases in property taxes, many small businesses are just doing everything they can to hold on. Texas is one of nine states that fully taxes a business’ inventory, meaning everything – even the items that do not reap a profit – gets taxed each and every year.
As we watch big box stores and retailers get sweetheart deals and our property taxes escalate, it feels as if the Small Business Deduction is the one policy provision that is working in our favor.
If Congress doesn’t act, this crucial tax break will expire, raising our taxes at a time when we can least afford it. Meanwhile, big box stores will continue to enjoy a lower corporate rate.
The Main Street Tax Certainty Act introduced by Rep. Henry Cuellar (D-Texas), would make this deduction permanent, ensuring local job creators can continue to raise wages, grow their businesses, and meet the needs of their community.
Please call or email your Congressional representative and Rep. Cuellar and let them know how important the Main Street Tax Certainty Act is to your community and local businesses and encourage them to reach out to their colleagues to ensure it passes. We need your help to get this done! Please act now!
Dana Sherrill
Twisted Steel Design LLC owner and operator Weimar.
