The “deduction for seniors,” “no tax on tips,” “no tax on overtime” and “no tax on car loan interest. ” taxpayers claiming these deductions should use schedule 1-a and see the related instructions. · “the house republicans’ tax plan to make the tax cuts and jobs act permanent and cut taxes on main street is a major win for american small businesses. The expanded child tax credit , now $2,200 per child, offers meaningful relief for business owners juggling family and entrepreneurship. · building on the 2017 tax cuts and jobs act (tcja), this newly enacted legislation locks in and expands the very tax breaks that helped small businesses grow during trump ’s first term. · president trump s one big beautiful bill provides small businesses with significant opportunities for bottom-line savings on income tax bills. · tax credits can give a boost to small businesses , and the 2025 tax reform has introduced some valuable new options. Let’s look at what’s inside—and how you can get ahead. · the legislation includes four prominent provisions for individuals: We want americans to see exactly how president trump s policies will strengthen small businesses, allow workers to keep more of their hard-earned money and spur economic growth. Find answers to tax questions · on july 4, president donald trump signed the one big beautiful bill into law, securing a major legislative victory that locks in permanent tax relief for small businesses , working families, and american manufacturers. The working families tax cuts are about opening the books for the american people, secretary bessent said.
