Legislative Shifts
Tax laws are constantly evolving, and businesses must stay agile to remain compliant and take advantage of available opportunities.
At CBIZ, we provide timely insights on tax policy developments, ensuring your business is prepared for upcoming changes. Our team of experts closely monitors legislation like the Tax Cuts and Jobs Act (TCJA) and the Inflation Reduction Act (IRA) to help businesses optimize their tax strategies.
Key areas of focus include:
- Expiring TCJA provisions, including tax rates and deductions
- IRA tax incentives for clean energy and sustainability
- State and local tax (SALT) implications
- International tax regulations
We help you assess the impact of policy changes on your business and develop a proactive strategy to efficiently address complex tax laws.
Tax Policy Insights
Tax Cuts and Jobs Act
The TCJA, enacted in 2017, introduced significant tax reforms, many of which are set to expire after 2025.
Changes may include:
- Individual and corporate tax rate adjustments
- Expiration of the $10,000 SALT cap
- Bonus depreciation phase-out
Uncertainty remains about whether provisions will be extended or modified. CBIZ specialists can help you prepare for potential tax changes and minimize financial disruption.
Inflation Reduction Act
The IRA offers significant tax incentives for energy efficiency and renewable energy investments, particularly for manufacturing, transportation, and energy businesses.
Key benefits include:
- Investment Tax Credits (ITC)
- Production Tax Credits (PTC)
- Incentives for reducing carbon emissions
Our team helps you identify eligibility and integrate IRA credits into your tax strategy to maximize savings. We’ll help steer you through complex rules related to IRA credits, including specific rules, limitations, and IRS requirements, including forms and filings.
