Tax experts weigh in: how the 2024 election could reshape the tax landscape
The National Association of Tax Professionals (NATP) is excited to announce the release of an exclusive panel discussion from its annual virtual conference, TaxCon, where top tax experts tackled the pressing question: What does the 2024 election mean for the future of tax policy?
This timely discussion, moderated by Tom O'Saben, NATP’s director of Tax Content and Government Relations, brought together three tax experts to explore the implications of the 2024 election results and provide actionable insights for tax professionals: -
- Kelly Phillips Erb, JD, LLM – Tax attorney, writer and Forbes contributor
- Larry Gray, CPA – NATP IRS liaison
- A.J. Reynolds, EA – NATP instructor
Key topics covered include:
- Business as usual (for now): A look at why tax professionals should prepare for the upcoming season with minimal disruptions despite potential legislative changes.
- Qualified business income (QBI) deduction: Predictions on whether this small business benefit will remain intact or undergo modifications.
- Estate tax exemption: A discussion on the possible adjustments to estate planning thresholds as 2025 approaches.
- State and local tax (SALT) deduction: Insights into bipartisan efforts to adjust the controversial $10,000 cap.
"Each new administration brings change, and this one is expected to be no different,” O’Saben said. “The panel provided thoughtful analysis of the challenges and opportunities tax professionals may face as the new administration transitions. This is a critical time for tax professionals to stay informed and prepared.”
Tax professionals and others interested in diving deeper into these topics can watch the full discussion on NATP’s blog.
The National Association of Tax Professionals (NATP) is the largest nonprofit organization that works exclusively for tax professionals. We serve members through education, advocacy and community, providing the tools they need to navigate the tax code and the insights the media can trust.
Looking for a tax expert? Tom O’Saben, EA, director of tax content and government relations at NATP, is available for phone or video interviews to discuss federal tax topics, including tax law change and its implications, taxpayer issues, tax preparer regulation and more. To schedule an interview with O’Saben, contact [email protected] or [email protected].