The 2024 U.S. national elections have turned the federal world upside down again. This course takes a well-grounded look at the president elect’s campaign promises, expiring tax legislative provisions, and likely agenda.

While the Senate flipped to Republican, votes for the House are still being counted. If the House goes to the Democrats, what will be the likely compromises? If the House stays Republican, what is likely to be pushed through? Keep in mind that tax bills originate in the House.  

Topics include:

• The impact of tax rates on optimal timing of income and deductions


• Whether to make gift transfers (or other estate planning moves) now or hold off 


• Proposed exemption of tip income from federal taxes  


• Proposed tax credit for family caregivers of the aged (or other loved one)


• Exempting overtime pay from all taxes  


• Extension of TCJA business tax cuts


• §199A QBID deduction


• §168(k) bonus depreciation


• Current write-off of §174 R&D expenses


• 100% expensing for the purchase of manufacturing equipment


• Repealing the state and local tax deduction cap / AMT implications 


• Social Security benefits exemption


• 15% tax rate for domestic manufacturing 


• Repeal of Corporate AMT and Buyback Tax


• Scrapping of energy tax credits


• Child tax credit / Standard deduction / Personal exemption restoration


• Deducting interest expense on loans on U.S. manufactured cars 


• Exemption of salaries of expatriates 


• Retroactive deduction for the purchase of a generator in a Hurricane zone 


• Impact of tariffs imposed on foreign imports 


• Every other TCJA provision set to otherwise expire

• Identify key aspects of the President-elect's tax agenda post-2024 election


• Recognize the implications of expiring tax legislative provisions on federal tax policy


• Determine potential compromises based on the House's majority status


• List possible tax changes anticipated in the wake of the 2024 national elections

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