Vice President Kamala Harris will propose a tax deduction of up to $50,000 for new small businesses on Wednesday, a tenfold increase over existing relief and her latest economic policy aimed at winning over middle-class Americans after jumping into the presidential race over a month ago.
Yeah, if this was a credit that’d be a different story and very ripe for exploitation. However, a deduction is still quite a bit of money to reduce your taxable income by.