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presidential election , the tax and accounting profession is bracing for the potential tax law changes that now lie ahead as President-elect Donald Trump returns to the White House. IRS adjustments for 2025 Each year, the IRS adjusts dozens of tax provisions for inflation. This is up from $7,830 for tax year 2024.
The Build It In America Act (HR 3938) addresses business taxpayer concerns regarding rising interest expense rates and deduction limitations on research and experimental expenditures, which could lead to drastically increased cash federal incometax payments.
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