Newspaper article Pittsburgh Post-Gazette (Pittsburgh, PA)

Voices from the Real World She Doesn't Support the President but Sees Benefits for Business in Tax Reform

Newspaper article Pittsburgh Post-Gazette (Pittsburgh, PA)

Voices from the Real World She Doesn't Support the President but Sees Benefits for Business in Tax Reform

Article excerpt

Simone Quinerly isn't a fan of President Donald Trump.

But she supports the sweeping tax reform act that his administration crafted and that became law in late 2017.

The effects of the legislation are being felt by most filers for the first time this year and for Ms. Quinerly's business clients, they have been largely positive.

Under the Tax Cuts and Jobs Act, small businesses can take a 20 percent qualified business income deduction.

"That's 20 percent more than they had before . and they'll feel it in their pockets," she said.

Some individuals aren't as pleased, she acknowledged, because the law doubled the standard deduction to $12,000 for single filers and $24,000 for married couples - meaning many people no longer reap benefits from writing off charitable gifts and other items.

"People who itemize a lot won't like it," she said.

Her small firm, Quinerly Financial on the North Side, handles tax preparation as well as other financial management for small businesses, nonprofits and individuals.

Ms. Quinerly, 29, launched the firm three years ago after assuming for years she'd end up with a career at a major financial corporation.

As a student at the now-closed Schenley High School, she landed an internship at BNY Mellon.

While studying business administration at Edinboro University, she interned for three summers at PNC Financial Services Group.

After graduation, she followed her boyfriend - now her fiance - to Philadelphia, where she worked for a small investment firm.

When she became pregnant with the couple's son five years ago, she returned to Pittsburgh and took over the financial books at Adonai Center for Black Males, a nonprofit founded by her longtime friend Kevin Carter, now a member of the board of Pittsburgh Public Schools.

During that time she also worked at the Northside Coalition for Fair Housing and Mt. Ararat Baptist Church. …

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