The Tax Cuts and Jobs Act (TCJA) introduced sweeping changes to individual and business taxation, but many provisions are set to expire after 2025. This course provides a detailed overview of the upcoming sunset provisions and their implications for taxpayers. Attendees will explore key changes to marginal tax rates, the Child Tax Credit, SALT deductions, bonus depreciation, estate and gift tax exemptions, and the Qualified Business Income (QBI) deduction. Gain practical strategies to help clients maximize opportunities under the current rules and prepare for the return of pre-TCJA tax structures.
With a focus on planning and compliance, this course equips CPAs, EAs, and other tax professionals with the tools needed to navigate the sunset provisions and guide their clients effectively.
Learning Objectives
- Identify individual and business tax provisions affected by the TCJA sunset.
- Calculate the impact of sunset changes on marginal tax rates and deductions.
- Evaluate changes to the estate and gift tax exemption and their implications.
- Assess the reduction of the Qualified Business Income (QBI) deduction.
- Discuss the potential elimination of the SALT deduction cap.
- Advise clients on timing income and deductions to optimize tax savings.
- Analyze planning opportunities for businesses under bonus depreciation rules.
- Formulate strategies for addressing the return of personal exemptions.
Major Topics
- Marginal tax rate increases and changes to brackets
- Expiration of bonus depreciation provisions
- Reduction in the Child Tax Credit and return of personal exemptions
- Estate and gift tax planning under reduced exemptions
- Impact of the SALT cap elimination on high-income taxpayers
- Alternative Minimum Tax (AMT) changes
- Qualified Business Income (QBI) deduction sunset provisions
- Planning strategies for individuals and businesses before 2026"
