The 2024 Election’s Potential Impact on Tax Policy
U.S. election results (and their impacts on tax policy) are always important for business owners and the broader population. However, the 2024...
The U.S. Senate will vote on a $78 billion bipartisan tax bill that advanced out of the House earlier this year. However, a final summer recess will require swift movement in the Senate Chamber.
The Tax Relief for American Families and Workers Act (HR 7024) passed the House 357-70 in January and has been teed up for consideration in the Senate as early as August 1. Some of the key provisions include extending or expanding certain tax credits for individuals and businesses.
READ MORE: Tax Relief for Working Families and Workers Act of 2024
The bill would expand the Child Tax Credit and Low-Income Housing tax credit. In addition, the bill would delay or modify a number of provisions in the Tax Cuts And Jobs Act until 2025, including the phase out of bonus depreciation, the requirement to capitalize Research and Development (R&D) expenditures, and the IRC 163(j) interest limitation.
U.S. election results (and their impacts on tax policy) are always important for business owners and the broader population. However, the 2024...
St. Paul, Minnesota (October 1, 2024) – Certified public accounting firm Redpath and Company (Redpath) has promoted Sarah Gengenbach to partner and...
Editor's note: This piece was originally published in 2023 and has been updated to include additional resources.