Close Look at Pass-Through Tax Break Business Loves
Talking Tax22 Jan 2025

Close Look at Pass-Through Tax Break Business Loves

Few of the provisions of the tax code this year have garnered as much attention from industry as the about-to-sunset pass-through deduction. In their 2017 tax overhaul, Republicans allowed owners of pass-through businesses such as partnerships, S-corporations, and LLCs to deduct 20% of certain business income from their taxes. Businesses and their lobbyists say it gives those firms small and large parity with traditional corporations. Critics say its benefits largely flow to the wealthy. That deduction—along with the rest of the individual provisions of that 2017 law known as the Tax Cuts and Jobs Act—expires at the end of 2025 absent congressional action and President Donald Trump's signature. On this episode of Talking Tax, Bloomberg Tax reporter Zach Cohen spoke with two guests about what the deduction does and prospects for renewal by Congress this year. Jeff Brabant is a vice president of federal government relations at the National Federation of Independent Businesss, and Elena Spatoulas Patel is a nonresident senior fellow at the Urban-Brookings Tax Policy Center and the Sorenson Assistant Professor in the Division of Quantitative Analysis of Markets and Organizations at the University of Utah’s David Eccles School of Business. Do you have feedback on this episode of Talking Tax? Give us a call and leave a voicemail at 703-341-3690.

Episoder(436)

PwC Coaches New Tax Associates on AI Tools in US Training Effort

PwC Coaches New Tax Associates on AI Tools in US Training Effort

PwC's new training program aims to give early-career recruits hands-on experience integrating artificial intelligence tools into everyday work. The Big Four accounting and advisory firm started pi...

23 Des 202516min

Tariffs, Big Audits, Roil Transfer Pricing Heading Into New Year

Tariffs, Big Audits, Roil Transfer Pricing Heading Into New Year

A slew of big tax disputes and the worldwide upheaval brought on by the Trump administration's aggressive trade policy made for an exceptionally interesting year for transfer pricing professionals, an...

10 Des 202512min

Taxpayers 'Gamble' by Committing Fraud, Even With Diminished IRS

Taxpayers 'Gamble' by Committing Fraud, Even With Diminished IRS

Anyone thinking about pushing the boundaries of tax law should remember that there's no federal statute of limitations on prosecuting fraud, even with weakened IRS enforcement, said Carolyn Schenck, w...

3 Des 202514min

Cross-Border Tax Fraud an Old Story, Roman Scroll Shows (Rerun)

Cross-Border Tax Fraud an Old Story, Roman Scroll Shows (Rerun)

For the holidays, we serve up an encore presentation of a Talking Tax podcast that shows cross-border tax fraud has been around a long time. When researchers studied a previously mislabeled scroll,...

26 Nov 202514min

What Comes Next for the IRS and Tax After the Long Shutdown

What Comes Next for the IRS and Tax After the Long Shutdown

Congress is back after ending the longest shutdown in US history. But the bipartisan accord left funding for the IRS and Treasury Department ending in less than three months and the fate of the enhanc...

19 Nov 202515min

Mamdani's NYC Tax Agenda Prompts Advisers to Caution Patience

Mamdani's NYC Tax Agenda Prompts Advisers to Caution Patience

New York City Mayor-elect Zohran Mamdani ran on an expansive affordability agenda that would be paid for by higher taxes on corporations and wealthy individuals. The democratic socialist's vision w...

13 Nov 202511min

Grant Thornton Leader Leveraged PE Deal to Raise Audit Bar

Grant Thornton Leader Leveraged PE Deal to Raise Audit Bar

Grant Thornton’s top audit leader is bullish on the practice’s future after a 2024 deal that sold a significant stake in the accounting and advisory firm to private equity investors led by New Mountai...

5 Nov 202520min

Plan to Drop 10-Qs Threatens to Trip Up Analysts' AI Models

Plan to Drop 10-Qs Threatens to Trip Up Analysts' AI Models

A Trump administration push to reduce the frequency of corporate earnings reports risks hurting the accuracy of artificial intelligence-fueled models used by analysts, an accounting adviser said. C...

29 Okt 202517min

Populært innen Politikk og nyheter

giver-og-gjengen-vg
aftenpodden
aftenpodden-usa
forklart
stopp-verden
popradet
nokon-ma-ga
rss-gukild-johaug
fotballpodden-2
lydartikler-fra-aftenposten
det-store-bildet
dine-penger-pengeradet
aftenbla-bla
hanna-de-heldige
rss-ness
rss-espen-lee-usensurert
rss-dannet-uten-piano
rss-utenrikskomiteen-med-bogen-og-grasvik
e24-podden
frokostshowet-pa-p5