Lee B Posted November 17, 2022 Report Share Posted November 17, 2022 "The four big-dollar tax issues at the center of the debate are: The expansion of the child tax credit after Democratic advocates were unable to include it in the Inflation Reduction Act. Reviving a version of the deduction for R&D costs that allows companies to reduce tax liability in the same year they incur the spending. This would benefit manufacturers, drugmakers and tech companies. Reinstating a more generous deduction for interest expense writeoffs that expired at the end of 2021. This would benefit highly leveraged companies, including private equity and venture capital firms. Renewing a tax break known as "bonus depreciation" that allows businesses to write off their equipment purchases in a single year, benefiting companies with large capital expenditures." Quote Link to comment Share on other sites More sharing options...
Lee B Posted November 17, 2022 Author Report Share Posted November 17, 2022 For us the big benefit of the gridlocked divided government for the next two years will be, minimal tax law changes which will hopefully allow the IRS to finally get caught up 2 2 Quote Link to comment Share on other sites More sharing options...
BulldogTom Posted November 17, 2022 Report Share Posted November 17, 2022 32 minutes ago, cbslee said: allow the IRS to finally get caught up Yeah....ummm....when exactly? Tom Longview, TX 3 Quote Link to comment Share on other sites More sharing options...
Lee B Posted November 17, 2022 Author Report Share Posted November 17, 2022 Optimistically by the end of 2023, realistically by the end of 2024. 4 Quote Link to comment Share on other sites More sharing options...
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