Note: This episode was recorded in 2024 prior to the new administration taking office, but there have been no new updates to the TCJA since that time.
Join us on this episode of Q&A Over Coffee as we sit down with Tax Principals Scott Hoyles and Joe Mayer to talk about a pressing topic for 2025 – the upcoming sunset of the Tax Cuts and Jobs Act (TCJA). Our experts discuss the background of the TCJA, what was included in the Act and what is set to change, and recommendations for business owners and individuals to plan ahead in preparation for its expiration.
Tune in to learn more about:
- Background on the TCJA and the Tax Reform Act of 1986
- Restructuring of the Corporate Tax Rate
- Tax Implications of Corporate Entity Structures
- Changes to the Qualified Business Income Deduction
- Taking Advantage of Bonus Depreciation
- Standard Deduction Changes for Individuals
- Estate & Gift Tax Exemption
Whether you’re a business owner looking to optimize your tax strategy or an individual wanting to prepare for potential financial impacts, this episode offers practical guidance to help you stay ahead of these major changes. Our experts share their strategies on how to take advantage of opportunities before the TCJA expires.
Relevant Resources:
Want more info on how to be prepared for the expiring TCJA? Read this article by Olsen Thielen Principal Charlie Sparks.
Visit the IRS website here for a full list of all the provisions under the TCJA.
