NFIB | The Voice of Small Business
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FACTS ON THE TAX DEDUCTION FOR SMALL BUSINESSES ORGANIZED AS PASS THROUGHS
If your business is a Sole proprietorship, S-Corporation, Partnership, or LLC, check line 13 on your 2020 IRS 1040 form. You’ll see a deduction of up to 20% of your business income, called the Small Business Deduction and it comes from section 199A of the federal tax code.

What are you doing with your 20%? Our resources can help you answer these questions and make the most of it if your business is eligible:

* Follow our Q&A graphic to determine if you benefit from the Small Business Deduction and learn more about it.
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* Wondering where you can find your Small Business Deduction on the 2020 IRS Form 1040? Our fact sheet can point you there.
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AT THIS VERY MOMENT CONGRESS IS DECIDING YOUR FUTURE

We tell lawmakers where you stand on small business issues.

> > JOIN NFIB
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ALREADY A MEMBER?
pages.nfib.com/OPNURNon-Member-On-boarding_AlreadyMember.html

LEARN MORE ABOUT NFIB
www.nfib.com/new-membership-benefits/

NFIB IN YOUR STATE
www.nfib.com/advocacy/choose-your-state/

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NEED HELP? CALL NFIB MEMBER CARE AT 1-800-634-2669
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NFIB
53 Century Blvd, Suite 250, Nashville, TN 37214
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