The Tax Cuts and Jobs Act is Coming to an End, Are You Ready?

From Zero to Millions: Accounting Edition

The expiration of the Tax Cuts and Jobs Act has far-reaching implications. As we explore estate planning, we discuss how the expiration impacts tax liabilities. It's crucial to communicate these changes with your clients to ensure they're prepared and informed!

We also cover the significant shifts in the business landscape, particularly the possible changes to the QBI deduction, and how these adjustments could affect your bottom line. On the individual tax front, planning is more important than ever as we navigate these upcoming changes.

As the accounting industry braces for these legislative shifts, we emphasize the need to adapt and rethink pricing strategies to stay competitive and efficient. Join us as we break down these critical topics and provide insights on how to stay ahead in an evolving financial environment!

What you'll hear in this episode:

[00:25] Discussing the expiration of the Tax Cuts and Jobs Act

[01:20] Estate planning and tax implications due to the expiration of the Tax Cuts and Jobs act

[02:45] The importance of communicating with clients about potential changes

[06:50] Business changes and possible changes to the QBI deduction

[09:55] Individual tax changes and the importance of planning for the changes

[13:15]The need for the accounting industry to adapt to legislative changes and the impact on pricing strategies

Connect with Kelly https://www.linkedin.com/in/kellyrohrs/

Connect with Bilal https://www.linkedin.com/in/bmehanna/