An increase in income tax rate means you'll pay a higher percentage of your income to the government. This directly reduces your disposable income, the money you have left after taxes for spending or saving. This can make it harder to afford basic necessities, save for retirement, or invest in your future.
Plan Now for The Expiration of the Tax Cut and Jobs Act Says Brown & Streza Legal Expert Matt Brown in New Family Enterprise USA Podcast
With Host Pat Soldano, Brown Explains Steps to Take in Advance of Expiring Tax Laws in New ‘Voice of Family Business on Capitol Hill’ Podcast
Managing the implications of the expiring tax provisions in the Tax Cut and Jobs Act coming at the end of 2025, including the $13 million estate, gift and GST lifetime exemption, and other tax provisions, will be no easy task, according to tax expert Matt Brown, featured in the latest podcast from Family Enterprise USA.
The podcast series, “The Voice of Family Business on Capitol Hill,” focuses on issues affecting America’s multi-generational family businesses, the country’s largest private employer. The series can be found on Spotify, iTunes, and other podcast platforms.
The newest episode features Matt Brown, Partner at Irvine, Calif.-based law firm Brown & Streza, and is hosted by Pat Soldano, President of the bipartisan, non-profit Family Enterprise USA and Policy and Taxation Group, both advocates on Capitol Hill for America’s family businesses, family offices, and successful individuals.
Brown heads the firm’s Tax, Trusts, & Estates Group and its Ultra-High-Net-Worth subgroup. Brown & Streza focuses its business on families, businesses, entrepreneurs, investors, philanthropists, and charitable organizations through an integrated approach to business and personal planning.
During the episode, Soldano and Brown discuss how family offices and family businesses are planning for possible expiration of the tax provisions in the Trump-era Tax Cut and Jobs Act, including increased the estate and gift taxes, the GST lifetime exemption, and other tax provisions. Soldano and Brown also discuss pending tax cases and the Corporate Transparency Act.
“There are many things to consider when planning, but most of all it is key to avoid what I call ‘panic planning’,” says Brown in the podcast. “This year is the time to plan, not in 2025,” he says. “People can catch up now, we can customize plans for families and businesses, and we are telling everyone do not wait, you want to avoid getting into a situation of planning major estate issues under tight deadlines.”
In the podcast, Brown details many benefits successful individuals and family businesses can use today to plan and safeguard wealth prior to the expiration of Tax Cut and Jobs Act.
“This episode deals with the potentially dire ramifications of the expiration of the tax provisions in the tax bill signed back in 2017,” said Soldano. “It’s important to know how this will affect family office clients, successful individuals, and family businesses who may or may not be planning for it,” she said about the podcast. “Matt offers valuable insights into what to expect and how to navigate the challenging year ahead.”
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The need for fact-based reporting of issues important to family offices and successful individuals and protecting a lifetime of savings has never been greater. Now more than ever, family offices and successful individuals are under fire. That’s why Policy and Taxation Group is passionately working to increase the awareness of issues important to family offices and successful individuals, while continuing to strengthen our presence on Capitol Hill.
Policy and Taxation Group is the Voice for Family Offices and Successful Individuals in Washington, DC focused exclusively on the critical tax and economic policies that impact them.
Since 1995, Policy and Taxation Group has been the leading advocacy group working to reduce and eliminate estate tax, gift tax, and generation skipping transfer tax while blocking increased income tax and capital gains taxes, the creation of a wealth tax, and other hostile tax policies that punish hardworking taxpayers and success.
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