Are Recent Tax Policy Changes Helping or Hurting Small Businesses?

Abstract

This study evaluates how recent tax law changes have affected small enterprises and makes recommendations for how to encourage their expansion and development. Small enterprises contribute significantly to economic expansion and create job possibilities. However, it might be difficult for them to navigate changes in tax policy. A mixed-methods approach is used in the study, which includes qualitative interviews with policymakers and tax specialists in addition to a quantitative survey of small business owners. According to the findings, small firms have experienced a mixed bag of effects from recent tax policy changes. This research study suggests that politicians adopt a more focused approach to tax policy, including increasing tax credits and deductions, streamlining tax laws and regulations, providing access to financial resources and business education, and other measures, in order to encourage their growth and success.