Taxes are changing — what does that mean for your business? On this week’s episode of Paychex THRIVE, Gene Marks chats with Stephen Dombroski, Senior Compliance Manager at Paychex, to break down the critical tax changes coming as the Tax Cuts and Jobs Act approaches its expiration. From bonus depreciation to the Section 199A deduction (and everything in between), Stephen shares what these changes might mean for your business, your employees, and even your personal finances. Whether you're planning capital investments, thinking about R&D credits, or just trying to stay ahead of tax changes, this episode is packed with expert advice to help you prepare.
Topics include:
00:00 – Episode preview and welcome
01:03 – Discussion on Tax Cuts and Jobs Act (TCJA)
02:20 – Provisions of TCJA
04:42 – Impact of fluctuating TCJA depreciation policies
06:35 – Potential bipartisan tax deal and its outcomes
08:29 – Individual income tax changes
10:36 – Future tax changes and employer considerations
12:37 – Employee Retention Credit discussion
14:18 – Implications of possible changes to estates taxes and the Work Opportunity Tax Credit
15:34 – Advice on preparing for tax changes
17:39 – Wrap up and thank you
14 ways to save on small business taxes in 2025: https://bit.ly/3CoMNgy
Regulatory changes every business should know and prepare for this year: https://bit.ly/4gfFWE6
DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.
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