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It’s always important to be prepared for potential changes that could affect your tax liability. With President Biden recently signing the Inflation Reduction Act into law, many people are left wondering what this actually means for their future tax liability. Will there be more audits with the increased budget for the IRS? What does this mean for SALT-caps? In this episode, Evgeni Ivanov, Senior Manager for Wipfli LLP, joins the show to share everything we need to know about the new tax bill and how these changes will impact you.
Listen in as Evgeni breaks down the most surprising thing he has seen come of this new tax bill, as well as how long he believes it will take for people to feel the effects of these changes. You will learn how these changes will make a difference for those purchasing vehicles, how the 15% U.S. minimum corporate tax would work, and more.
What You’ll Learn In Today’s Episode:
- What people were fearing the most around taxes when President Biden was elected.
- How these new changes will impact the cost of vehicles.
- What this tax bill will actually mean for audits from the IRS.
- How the State and Local Tax cap has been impacted.
- What you don’t need to be worried about right now in terms of the Inflation Reduction Act.
- How the 15% U.S. minimum corporate tax would affect us.
Ideas Worth Sharing:
Resources In Today’s Episode:
- Evgeni Ivanov: LinkedIn
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