Election 2024
With another presidential campaign in the offing, the accounting profession will be keeping an eye on the flood of tax proposals that have already begun to come out of the two main candidates’ camps, to see what might be in store for their clients in 2025 and later. They’ll also be looking to see how the campaign and the candidates are likely to impact the overall economy — all while casting a jaundiced eye over a political climate that almost three-quarters of them find “very dissatisfying.”
What accountants think about the election
Accountants’ current voting intentions for the 2024 presidential election more or less mirror how they voted in 2020 — allowing for those who are still undecided, they’re relatively evenly split between the two major parties — but they are agreed that fiscal, economic and tax issues are the biggest priorities for whoever wins.
The economy, the national debt and tax reform are accountants' top concerns this election season, according to a new Arizent survey.
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Overall, the accounting profession generally leans Republican in its political preferences, but it's much more neck and neck in the presidential race.
The Treasury will unveil the final version of new rules limiting a popular tax credit for electric car buyers as soon as Friday.
State supreme court rulings granting frozen embryos the same legal status as children will have major impacts on financial planning, writes an expert on estate planning and tax law.
An overwhelming 77% of voters in the seven states that will decide the 2024 presidential election like the idea of a billionaires tax to bolster Social Security shortfalls.
The Treasury will unveil the final version of new rules limiting a popular tax credit for electric car buyers as soon as Friday.
Economists advising Donald Trump are pushing to keep a cap on the state and local tax deduction, limiting a valuable tax break for many residents of New York, New Jersey and California.
Biden's pitch for a fair Tax Code and Werfel's quest for a digitally transformed IRS are among the key issues to pay attention to after the dust has settled on tax season.
Overall, the accounting profession generally leans Republican in its political preferences, but it's much more neck and neck in the presidential race.
President Biden wants the wealthy to "pay their fair share." Ex-President Trump calls for "the biggest tax cuts." But labeling people as rich creates massive policy challenges.
President Joe Biden proposed tax increases on the wealthy and large corporations, along with some new tax credits, in his State of the Union address on Thursday night.
The 20% deduction for the qualified income of pass-through entities has strong supporters and critics. Here's how tax experts say it could play out if made permanent.
A provision paying for breaks for parents and business owners has earned widespread praise, but an expert says financial advisors should be on alert.
Here's a breakdown of the most important proposals and debates circulating in policy circles ahead of this year's election and a big Supreme Court decision.
