F46: Strategic Tax Planning and Legislative Policies for Business Growth

The Tax Cuts and Jobs Act significantly reduced the tax liabilities for U.S. manufacturing companies. Tax rates went down; machinery, equipment and other assets could be written off immediately; and new methods of accounting became available to thousands of manufacturers. However, many of these tax provisions are set to expire in 2025, making the 2024 election a bellwether for U.S. tax policy and the tax liabilities of U.S. manufacturers for years to come. Just weeks before the 2024 election, the presenter will provide participants with his insights from Washington D.C., discussing tax policy enacted during 2024 and the potential for new tax laws in 2025. His talk will also provide an overview of tax incentives for the manufacturing sector. These incentives focus on human capital, research and development, plant and equipment, and methods of accounting, together can provide significant relief from federal tax burden.