Sign up to save your podcasts
Or
Share Ep. 18 | Navigating Post-Election Tax Strategies
Share to email
Share to Facebook
Share to X
Share to email
Share to Facebook
Share to X
Or
Ep. 18 | Navigating Post-Election Tax Strategies
FREE CPE (1 credit) via EarMark:
https://earmark.app/c/2174
Welcome to episode 18 of the Mr. R Show, tailor-made for tax professionals seeking effective strategies for growth and enhancement in their practices. In this episode, John Tripolsky and Chris Picciurro, an esteemed tax expert, delve into the potential implications of the 2024 election results on tax planning for 2025. The conversation explores the critical changes tax professionals may anticipate, focusing on impacts stemming from possible revisions to the Tax Cuts and Jobs Act, corporate tax rates, and estate tax exemptions.
With the Republican Party gaining control of the presidency and Congress, Chris examines the likelihood of significant tax policy shifts, offering insights on how these could affect individual taxpayers, corporate structures, and real estate investments. Key topics include the potential extension of the Tax Cuts and Jobs Act, changes in bonus depreciation, and considerations for SALT tax deductions, estate planning, and Roth conversions. This podcast is a treasure trove of strategic advice for tax professionals poised to navigate this evolving landscape, armed with actionable insights and practical foresight.
Key Takeaways:
- The Tax Cuts and Jobs Act's possible extension or permanence could reshape individual and corporate tax strategies.
- Tax professionals should monitor potential changes in corporate tax rates, especially the implications for C-Corps.
- Estate tax planning may become crucial due to possible reductions in estate and gift tax exemptions.
- Roth conversions and the strategic timing of capital gains might be beneficial under current lower tax rates.
- Legislative changes could offer new opportunities or challenges in leveraging bonus depreciation and SALT deductions.
Notable Quotes:
- "I do tax planning for taxpayers based on what I know now, not what I think might happen."
- "Sometimes no decision is A decision."
- "Having those longer-term relationships with your clients is really important."
- "Let's look at, are tips going to become tax-free? Is overtime going to be tax-free?"
- "If the tax Cuts and Jobs act does expire, which I don't expect it to, consider those Roth conversions."
Resources:
- Teaching Tax Flow: teachingtaxflow.com
- National Association of Tax Professionals: natptax.com
- Tax Foundation: taxfoundation.org
For more insights and in-depth discussion, tune in to the full episode of the Mr. R Show. Stay informed and ahead of the curve by subscribing for future episodes brimming wit
- (00:00) - Free CPE and Expert Strategies for Tax Professionals
View all episodes
By Chris Picciurro and John TripolskyFREE CPE (1 credit) via EarMark:
https://earmark.app/c/2174
Welcome to episode 18 of the Mr. R Show, tailor-made for tax professionals seeking effective strategies for growth and enhancement in their practices. In this episode, John Tripolsky and Chris Picciurro, an esteemed tax expert, delve into the potential implications of the 2024 election results on tax planning for 2025. The conversation explores the critical changes tax professionals may anticipate, focusing on impacts stemming from possible revisions to the Tax Cuts and Jobs Act, corporate tax rates, and estate tax exemptions.
With the Republican Party gaining control of the presidency and Congress, Chris examines the likelihood of significant tax policy shifts, offering insights on how these could affect individual taxpayers, corporate structures, and real estate investments. Key topics include the potential extension of the Tax Cuts and Jobs Act, changes in bonus depreciation, and considerations for SALT tax deductions, estate planning, and Roth conversions. This podcast is a treasure trove of strategic advice for tax professionals poised to navigate this evolving landscape, armed with actionable insights and practical foresight.
Key Takeaways:
- The Tax Cuts and Jobs Act's possible extension or permanence could reshape individual and corporate tax strategies.
- Tax professionals should monitor potential changes in corporate tax rates, especially the implications for C-Corps.
- Estate tax planning may become crucial due to possible reductions in estate and gift tax exemptions.
- Roth conversions and the strategic timing of capital gains might be beneficial under current lower tax rates.
- Legislative changes could offer new opportunities or challenges in leveraging bonus depreciation and SALT deductions.
Notable Quotes:
- "I do tax planning for taxpayers based on what I know now, not what I think might happen."
- "Sometimes no decision is A decision."
- "Having those longer-term relationships with your clients is really important."
- "Let's look at, are tips going to become tax-free? Is overtime going to be tax-free?"
- "If the tax Cuts and Jobs act does expire, which I don't expect it to, consider those Roth conversions."
Resources:
- Teaching Tax Flow: teachingtaxflow.com
- National Association of Tax Professionals: natptax.com
- Tax Foundation: taxfoundation.org
For more insights and in-depth discussion, tune in to the full episode of the Mr. R Show. Stay informed and ahead of the curve by subscribing for future episodes brimming wit
- (00:00) - Free CPE and Expert Strategies for Tax Professionals