Oregon Business & Industry的动态

To help understand the post-election tax policy landscape, I am pleased to share the latest thinking from our Deloitte Tax Policy team, “Scaling the cliff: Tax policy implications of a Donald Trump presidency.” This comprehensive report looks at how President-elect Trump may address the “fiscal cliff” arising from next year’s scheduled expiration of key provisions in the Tax Cuts and Jobs Act and discusses other tax policy priorities that he would like to see enacted into law. Understanding the magnitude of the challenges facing the incoming Trump administration and the next Congress is crucial in helping our clients to evaluate, model, and plan for potential tax law changes. The report provides analysis and insights that can help us anticipate and navigate the evolving tax landscape. https://lnkd.in/ecD7zuCA? ? ?#DeloitteTax??

The Tax Foundation has updated its index to better reflect what it assesses: states’ overall tax competitiveness, not just the business tax climate. Check out the new 2025 rankings out today. https://lnkd.in/eBKa5-MK

Big Tax Decisions to Make in 2025 https://lnkd.in/eMGaRJuA The Tax Cuts and Jobs Act (TCJA), which made significant changes to the tax code for individuals and corporations, is set to expire at the end of December 2025. #cfp #financialplanning #incometax #article

Get ahead of tax changes! Stay informed on the five state tax trends shaping our future. Explore the latest insights here: https://okt.to/Qjh1F8 #TaxDay2024 #StateTaxTrends #EconomicOpportunity

The Tax Cuts and Jobs Act (TCJA), a significant tax act passed in 2017 is set to ‘sunset’ in 2025, unless Congress acts. There are some tax planning strategies to prepare for this. https://lnkd.in/g3W5ZxVY

Death, taxes, and changes in tax policy? In 2017, the Tax Cuts and Job Act (TJCA) made significant changes to the tax code for individuals and corporations. The current tax provisions are set to expire at the end of 2025. The TJCA has benefited taxpayers by simplifying parts of the tax code, expanding credits, and providing new deductions. The cost to extend these tax changes would increase deficits by an estimated $2.7 trillion over the next 10 years according to the CBO. Policymakers have their work cut out for them. https://lnkd.in/gXvvtmyJ

Tax Policy Center analyses of the 2017 Tax Cuts and Jobs Act can help you better understand the choices facing the next administration. https://tpc.io/48BWm7u

Title: Navigating the New Tax Regime: Understanding its Benefits and Pitfalls As we step into a new era of taxation, it is essential for individuals and businesses alike to understand the implications of the latest tax regime. The introduction of a new tax system brings both advantages and challenges, and being well-informed is key to making the most of it. In this blog post, we will explore the benefits and potential drawbacks of the new tax regime to help you navigate through this complex landscape. Benefits of the New Tax Regime: 1. Simplicity: One of the primary objectives of the new tax regime is to simplify the tax structure, making it easier for taxpayers to comply with their obligations. With fewer tax slabs and deductions, individuals can now calculate their taxes more efficiently. 2. Lower Tax Rates: The new tax regime offers lower tax rates for certain income brackets, providing relief to taxpayers and encouraging compliance. This can result in higher disposable income for individuals and increased spending power for businesses. 3. Transparency: By streamlining the tax system, the new regime aims to improve transparency and reduce the scope for tax evasion. This can lead to a more equitable distribution of tax burden and a level playing field for all taxpayers. Challenges of the New Tax Regime: 1. Limited Deductions: While the new tax regime offers lower tax rates, it also comes with limited deductions and exemptions. This could potentially increase the tax liability for certain individuals, especially those who relied heavily on deductions in the previous system. 2. Complexity for Businesses: For businesses, the transition to the new tax regime may involve significant changes in compliance procedures and reporting requirements. Adapting to these changes can be challenging, particularly for small and medium enterprises. 3. Uncertainty: As with any major policy change, there is a degree of uncertainty surrounding the new tax regime. Taxpayers may face challenges in understanding the new rules and regulations, leading to confusion and potential errors in tax filings. In conclusion, while the new tax regime offers several benefits such as simplicity, lower tax rates, and enhanced transparency, it also presents challenges in terms of limited deductions, complexity for businesses, and uncertainty. To make the most of this new system, it is crucial for taxpayers to seek professional advice, stay informed about the latest developments, and carefully assess their individual tax situations. By staying proactive and informed, individuals and businesses can navigate through the new tax regime successfully and ensure compliance with the law. #incometax #ITR

This newsletter discusses the tax proposals that the government is likely to introduce on Budget Day as part of the 2025 Tax Plan package, as well as a number of other tax legislative amendments to be introduced in 2025. #TaxPlan #Prinsjesdag #Tax

Big Tax Decisions to Make in 2025 https://lnkd.in/eHkDT3Ty The Tax Cuts and Jobs Act (TCJA), which made significant changes to the tax code for individuals and corporations, is set to expire at the end of December 2025. #cfp #financialplanning #incometax #article