Tell Us What Matters Most to Your Family-Owned Business
‘Big Beautiful’ tax bill gets Senate review as family businesses anticipate tariff impact
By Pat Soldano | Family Business Magazine
As the “One Big Beautiful Bill Act” winds through Congress, family-owned businesses are watching closely. The bill includes proposed extensions to the 2017 Tax Cuts and Jobs Act, offering big potential wins for pass-through entities and estates, including:
- Raising the estate tax exemption to $15M (individual) / $30M (married)
- Increasing the pass-through deduction from 20% to 23%
- Restoring full R&D expensing for five years
- Raising the SALT cap to $40,000
But there’s more at stake. Some deductions may be stripped, foundations face new taxes, and Medicaid and SNAP programs could be cut. Capitol Hill experts Russ Sullivan and Michael Hawthorne offer insight into what’s politically possible, and what family businesses should prepare for.
Pat also reports on the latest Family Business Caucus meeting, where business leaders shared their charitable impact and made the case for stronger support of the family enterprise model.
Read the full article in Family Business Magazine. Make sure your family office stays informed – and your voice is heard in Washington.
We hope you’ve enjoyed this article. While you’re here, we have a small favor to ask…
As we prepare for what promises to be a pivotal year for America, we’re asking you to consider becoming a supporter.
The need for fact-based reporting of issues important to family offices and successful families and protecting a lifetime of savings has never been greater. Now more than ever, family offices and successful families are under fire. That’s why Family Enterprise USA Action is passionately working to increase the awareness of issues important to family offices and successful families, while continuing to strengthen our presence on Capitol Hill.
Family Enterprise USA Action engages with legislators on Capitol Hill on behalf of family offices, successful families, and family-owned businesses. It is focused exclusively on the critical tax and economic policies that impact them. Since 1995, FEUSA Action has been the leading advocacy group working daily in Washington, D.C., to reduce and eliminate estate tax, gift tax, and generation skipping transfer tax while blocking increased income and capital gains taxes, the creation of a wealth tax, and other hostile policies that punish hardworking taxpayers and success in the U.S. It is a bipartisan 501.c4 organization.
#incometax #CapitalGainsTax #R&DExpensing #DontPunishSuccess #GrantorTrusts #likeKindExchanges #AcceleratedDepreciation #EstateTax #Deathtax #wealthtax #taxLegislation #incometaxrates #repealestatetax #FamilyOffice #SuccessfulFamilies @PolicyAndTaxationGroup @DitchTheEstateTax #PolicyAndTaxationGroup #DitchTheEstateTax #FamilyEnterpriseUSAAction