New Tax Reform Laws Aim to Deliver Clearer, More Beneficial Returns for Small Businesses and the American Public NASE President and CEO Keith Hall Breaks Down Recent Tax Code Changes Following Major Reform Legislation, Including the Permanent Extension of the 2017 Tax Cuts and Key Provisions of the One Big Beautiful Bill. From Higher QBI Deduction to Expanded SALT Deductions, Tax Code Updates Deliver Meaningful Savings for Small Businesses.
DALLAS, TX – As millions of American taxpayers—including small business owners, solo entrepreneurs, and gig-economy workers—are in the midst of preparing to file their 2025 income taxes this April, Keith Hall, President and CEO of the National Association for the Self-Employed (NASE), is highlighting key changes to the tax code that could help filers reduce their tax burden and maximize their tax savings this year.
As the nation’s leading resource for the self-employed and micro-business community, NASE is alerting Americans – including the recording breaking 21 million plus small businesses that have opened since 2021 who may be unaware of tax rules, updates, and tax benefits available to them this filing period. Many of these changes are designed to help small business owners file more beneficial returns and keep more of what they earn. This is particularly important following Congress’s passage of significant tax reforms last year, including making the 2017 tax cuts permanent and advancing provisions of the One Big Beautiful Bill.
Together, these policies are intended to lower tax burdens for the American public and small businesses alike, by placing more money back into the pockets of entrepreneurs at a time when clarity and certainty matter most.
“The small business community is positioned to come out ahead this tax season because Congress took swift and meaningful action last year to strengthen tax code policies for entrepreneurs,” said Keith Hall, president and CEO of the National Association for the Self-Employed (NASE), the nation’s leading advocate and resource for the self-employed and micro-businesses. “Lawmakers passed key legislation designed to help entrepreneurs keep more of their hard-earned money, while making practical updates to the tax code that allow Americans to file more beneficial returns. Expanded income tax brackets coupled with a permanent QBI and enhanced business interest deduction means many small business owners will see real savings this year—putting more money back into their businesses. That capital can be used to hire employees, invest in new equipment, expand operations, or simply create a stronger financial cushion. An overwhelming majority of self-employed individuals and small businesses are expected to benefit from these long-advocated reforms.”
Key 2025 Tax Return Filing Changes and Updates
The tax filing deadline is Wednesday, April 15th, 2026
The IRS begins accepting individual tax returns today (January 26, 2026).
Under the current tax system:
Wider tax brackets for 2025 tax year filings.
A lower individual rate, which is where most self-employed small businesses file. An increase in the standard deduction, which is $15,750 for single filers and $31,500 for married couples filing jointly. Dramatic increase in the available deduction for state and local taxes, known as SALT deductions, up from $10,000 to $40,000, for taxpayers with Adjusted Gross Income less than $500,000. A streamlined, standard home office deduction is available.
The standard mileage rate for business use of an automobile is 70 cents per mile for 2025 tax returns and will increase to 72.5 cents per mile for 2026 tax returns. Limits for retirement plan contributions such as SEPs, IRAs and 401(k) plans may have changed for your situation. 100 percent depreciation on Qualified business property.
Changes in reporting thresholds for small businesses that take payments through PayPal and Venmo – and therefore receive an IRS Form 1099-K – has been increased to a $20,000 threshold.
Any small business owner reporting less than the $20,000 threshold won’t have to worry about tax paperwork this tax filing season.
Research and Development (R&D) costs are fully and immediately deductible in the year they’re incurred.
The 20 percent QBI deduction is now permanently part of the tax code for LLCs, S corporations, partnerships, sole proprietorships, and other pass-through entities.
“Now is the time to get prepared, gather documents, and review the key changes and updates to the tax code to ensure you don’t leave anything on the table. Don’t overlook hidden deductions – and take the time to ensure you are filing the most beneficial return possible.
Whether it is itemizing your deductions, claiming the use of your car for work purposes, a streamlined home office deduction or the impact of retirement contributions, all these options can result in financial savings to mitigate any costs associated with your 2025 tax returns. NASE has been a long-time advocate for passage of laws and regulations in our nation’s tax system which allows for many benefits for those in the small business community. We encourage members of our community to educate themselves on these available benefits and maximize them to your advantage,” continued Hall.
Tax Filing Tips
Gather Your Documents Early – don’t wait until the last minute; now is the time to start making sure you have all your important tax filing documents.
You’re Not Alone – stay connected; there are resources out there to help you from NASE.org, IRS.gov and SBA.gov and tax professionals.
Educate Yourself About Changes to the Tax Code – believe it or not, there are changes and adjustments to the tax code year-to-year; make sure you find out what they are so you are prepared and can take advantage of them.
Don’t Forget About Hidden or Overlooked Deductions – don’t leave anything on the table; make sure you are not missing any deductions that apply to you that can make the difference, such as mileage reimbursement, retirement contributions and the home office deduction.
“File as soon as possible to receive any expected refunds in a timely manner and to avoid delays. Remember, you are not alone and there are resources out there for help, including NASE.org, IRS.gov and SBA.gov, where information and assistance is readily available,” concluded Hall.
To Speak with Keith Hall, a Certified Public Accountant and Small Business Expert, about tax reform and/or this year’s tax season, please contact Kristofer Eisenla at kristofer@lunaeisenla.com
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The National Association for the Self-Employed (NASE) is the nation’s leading advocate and resource for the self-employed and micro-businesses, offering a broad range of benefits to help entrepreneurs succeed and to drive the continued growth of this vital segment of the American economy.
The NASE NextBizThing helps identify and connect our nation’s smallest businesses. Need small business help? Check out NASE’s Ask the Experts for advice or the NASE Minute for small business support. To help new and existing business owners with the costs of business ownership, the NASE also offers a series of financial calculators for budgeting and financial analysis.
The NASE is a 501(c) (6) nonprofit organization and provides big-business advantages to hundreds of thousands of micro-businesses across the United States. For more information, visit the association’s website at NASE.org