The House Ways and Means Committee has passed legislation that would rewrite the federal tax code that the Automotive Service Association (ASA) says includes several provisions aimed at strengthening small businesses, including independent auto repair shops. ASA has urged, along with coalition partners, members of Congress to support many of the provisions that were included in the legislation.
The approved version of House Continuing Resolution 14 would make permanent the Section 199A tax deduction for businesses registered as sole proprietorships, S corporations or partnerships, while increasing it from 20% to 23%. The deduction is currently set to expire at the
Subscribers need to be logged in to see rest of this article. Please Login to access. If you're not a subscriber, click here for information on our satisfaction guaranteed subscription options.