Tax
Nov. 25, 2024
Tax changes are just around the corner, but what will they be?
With Trump's 2017 tax cuts set to expire in 2025, Congress faces pivotal decisions that could reshape America's entire tax landscape.
Robert W. Wood
Managing Partner, Wood LLP
333 Sacramento St
San Francisco , California 94111-3601
Phone: (415) 834-0113
Fax: (415) 789-4540
Email: wood@WoodLLP.com
Univ of Chicago Law School
Wood is a tax lawyer at Wood LLP, and often advises lawyers and litigants about tax issues.
Tax changes are on the horizon, and they could be extensive. When President-elect Trump takes office in January, he will have a Republican-controlled Senate and a slimly Republican-controlled House. Even without Congressional action, the tax changes that were passed under Trump in 2017 (and that took effect starting in 2018) are scheduled to expire at the end of 2025. In large part, Trump has proposed making these cuts permanent but with some tweaks as we will see.
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