Big I Celebrates Continued Tax Deduction for Many Independent Agents

The US Independent Insurance Agents and Brokers (Big “I”) celebrated the approval of a “great beautiful bill” last Thursday.

In a statement, Charles Samington, president and CEO of the big “I”, said, “In the big”, the US Congress and President Trump would like to thank them for their work by approving tax reforms and taking their work for further development and development in the economy. “The passage of this reconciliation bill offers the promise of protecting and permanenting the 2017 tax deduction and the job act, which many of our members have come to rely on.”

During President Trump’s first term, the tax deduction deductions were due later this year. The TCJA included a section 19A tax deduction on entrepreneurship for institutions (single ownership, partnership, limited responsibility companies, and S corporations) by pass. Big “I” said that 86 % of independent agencies were formed by pass.

Related: Big I says, ‘Big beautiful’ tax breaks for insurance agents in the bill approved in the bill

: “We would like to thank the President and the Congress leaders for cutting 20 % of the small business for permanent institutions,” said Samington. “This will surely allow our members to continue investing in jobs in Main Street America and serve their customers and communities better.”

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