Game On: TCJA Winners and Losers—Business on the Chopping Block


Prepare for Tax Changes

The Tax Cuts and Jobs Act (TCJA) has shaped tax planning for nearly seven years. As 2025 approaches, many key provisions are set to expire, impacting both individuals and businesses. Here’s what you need to know.

Expiring Provisions: Mixed News for Businesses

Several major tax benefits are set to disappear unless Congress extends them:

Permanent Provisions: Long-Term Opportunities

Some TCJA provisions are here to stay:

Winners and Losers

The TCJA brought both benefits and restrictions:

Winners: Businesses benefiting from faster depreciation rules, enhanced Section 179 deductions, and improved vehicle depreciation rules.

Losers: Businesses facing restrictions on 1031 exchanges for personal property, limits on business interest deductions, and the disallowance of entertainment expense deductions.

Planning for the Future

With potential tax hikes on the horizon, proactive planning is key:

The TCJA brought significant tax changes, and as its provisions evolve, so must your tax strategy.


2024 Year-End Tax Strategies for Crypto Investors

With Bitcoin hitting all-time highs in 2024, tax planning for crypto investors is crucial. Here are some strategies to reduce your tax burden before year-end:


Tax Credits for EVs: What’s New?

The Inflation Reduction Act revamped EV tax credits, but restrictions have limited their availability. Here’s how you can benefit:


U.S. Supreme Court Eases Challenges to IRS Regulations

The Supreme Court’s decision in Loper Bright Enterprises v. Raimondo overturned the 40-year-old Chevron doctrine, which required courts to defer to IRS regulations. Now, courts will interpret tax laws independently, making IRS rules more vulnerable to legal challenges.

What This Means for Taxpayers

The tax landscape is changing rapidly. Stay informed and consult a tax professional to navigate these shifts effectively.