Surgent's Top Business Tax Planning Strategies

Business strategies for 2025 are largely dependent on changes that could be enacted some time in 2025. Of particular concern to tax practitioners is whether the Tax Cuts and Jobs Act of 2017 will be reenacted in 2025 in whole or in part. The possibility exists that many provisions of the Tax Cuts and Jobs Act of 2017 will not be extended beyond 2025. President Trump has also proposed other tax changes unrelated to the Tax Cuts and Jobs Act of 2017 that could significantly impact business. This program analyzes the new opportunities and challenges that legislative changes offer to businesses and their owners that impact 2025 and later years.

Tax practitioners who anticipate advising business clients in 2025 regarding strategies to reduce or eliminate federal income taxation

• Alert business clients to legislative changes enacted in 2025 that would impact them
• Advise business owner clients on adopting tax planning strategies that would reduce their tax liability for 2025 and later

• Use of the budget reconciliation process to enact major tax legislation
• Whether the Tax Cuts and Jobs Act of 2017 expires after 2025
• Elimination of income taxation on tips, Social Security payments, and overtime
• Changes in marginal tax rates after 2025, including 15% rate on corporations for domestic manufacturing
• Section 163(j) — deduction limitation based on EBIT rather than EBITDA
• Various tariff proposals ranging from 10% to 200%
• Reinstatement of 100% bonus depreciation
• Changes in research and development expensing
• Increased tax-free benefits for commuting, health, and child care

A basic understanding of the tax rules relating to individual income tax