On March 9, 2023, the Biden Administration released The President’s Budget for Fiscal Year 2024. It is currently unlikely that this budget proposal will become legislation, but it is important to recognize the tax revenue raises in this latest budget proposal. Parts of the latest proposed budget come from the drafted Build Back Better Act and early versions of the Inflation Reduction Act.

In the latest episode of the Tax Beat Podcast, Brooks Nelson, Partner and Strategic Tax Leader, and Sarah McGregor, Tax Director, are joined by Ron WainwrightTax Credits & Incentives Advisory Partner, and Brian Dill, International Tax Leader. They will dive into the proposed tax changes, the likelihood of it becoming law, and the potential implications for business taxpayers.

The podcast covers:

  • 4:40 – Budget Passing Into Law?
  • 7:29 – Proposed Tax Rate Increases
  • 11:45 – Tax Changes for International Activities
  • 15:29 – Base Erosion and Anti-Abuse Tax (BEAT) Change Proposals
  • 18:01 – Proposed Real Estate Changes
  • 23:48 – Proposals from Earlier Legislation
  • 28:05 – Proposed Changes for Individuals
  • 30:42 – Update on Section 174

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Brooks E. Nelson

Tax Services

Partner, Cherry Bekaert Advisory LLC

Sarah McGregor

Tax Services

Director, Cherry Bekaert Advisory LLC

Ronald Wainwright, Jr.

Tax Services

Partner, Cherry Bekaert Advisory LLC

Brian Dill

International Tax Leader

Partner, Cherry Bekaert Advisory LLC

Past Episodes

Podcast

November 11, 2024

20:43

Speakers: Sarah McGregor, Brooks E. Nelson, Mark Giallonardo

Learn how to claim disaster losses and defer casualty gains under IRS rules. Explore relief measures for individuals and businesses affected by disasters.

Podcast

November 8, 2024

26:55

Speakers: Kurt Manske, Marc Montoro

Dive into the HITRUST framework, exploring its certifications, benefits, and why it's essential for achieving industry compliance and strong security.

Podcast

November 7, 2024

22:13

Speakers: Brooks E. Nelson, Sarah McGregor, Martin Karamon

Learn about the ERC's voluntary disclosure program, IRS moratorium, and how employers can navigate claim eligibility and refund processing changes.