Join Cherry Bekaert’s tax team to gain important insights on the current status of the budget resolution, Congress’s position on tax policy and how House and Senate committees are moving forward with the agreed budget plan and reconciliation process. This session will help you understand the current state of play with budget reconciliation and the Tax Cuts and Jobs Act (TCJA) 2.0. Our knowledgeable team will also equip you with the knowledge to begin evaluating and planning for the potential of the TCJA 2.0.
Learning Objectives:
- Cover the potential to lower the corporate income tax rate along with the repeal of the corporate alternative minimum tax
- Discuss the potential of the return to immediate expensing of research and development (R&D) costs
- Learn about neutral cost recovery for structures which allows businesses adjust deductions for inflation and real rate of returns
- Explore the proposal to repeal green energy tax credits created and expanded under the Inflation Reduction Act
- Understand proposed changes to state and local tax (SALT) around SALT Cap, property taxes, eliminating the pass-through entity tax (PTET) work around and repealing the SALT deduction
- Examine proposals to either expand or entirely eliminate the federal estate tax
