HOST: Glen Sanders
GUEST: Carrie Boynton, Tax Director, James Moore & Co.
LINKS:
https://www.linkedin.com/in/carrie-boynton-cpa
https://www.glenasanders.com/bizdab.html
https://www.facebook.com/groups/bizdab
https://twitter.com/GlenASanders
NOTES:
01:13 The Biden Administrations tax focus.
02:41 Changes to the corporate tax rate.
03:55 Minimum tax on C Corporations
04:33 Individual provisions that will affect pass-through entities.
05:43 The increase on SS tax on payroll over 400k.
09:14 Timing of Bidens tax plans.
14:44 Capital gains rate increase for Americans with income over 1 million dollars.
15:20 Expansion of the child tax credit, expansion of the premium tax credit, and bringing back the SALT deduction.
16:20 Standard deduction amount
17:06 Potential green energy tax breaks.
17:48 Opportunities for a made in America tax credit for manufacturers.
18:33 Tax benefits for individuals.
21:15 Potentially some relief in the deduction for student loan interest and a refundable renters tax credit.
22:24 Five year carry-back of net operating losses.
24:35 Standard deductions in 2020
26:20 At what point should you hire a tax professional?
