CPA Financial Advisory Services

On December 10, 2024, CNBC contributor Kevin Breuninger reported that President-elect Donald Trump announced a policy proposal aimed at expediting permits and approvals for organizations investing $1 billion or more in the United States. This plan, outlined in a post on Trump’s Truth Social platform, includes accelerated environmental approvals and other regulatory clearances as part of the incentive package. Trump stated, “Any person or company investing ONE BILLION DOLLARS, OR MORE, in the United States of America, will receive fully expedited approvals and permits, including, but in no way limited to, all Environmental approvals. GET READY TO ROCK!!!” While details of the proposal are still unclear, the message highlights the administration’s intention to reduce regulatory hurdles for large-scale investors. Current Challenges in Permitting for Large Projects Permitting delays have long been a bottleneck for large-scale construction projects in the United States. According to a 2...

The Tax Cuts and Jobs Act (TCJA) of 2017 introduced several tax reforms, many of which are scheduled to expire at the end of 2025. Key provisions set to sunset include: Individual Income Tax Rates : The TCJA reduced marginal tax rates across income brackets. Without legislative action, these rates will revert to their pre-2018 levels, resulting in higher taxes for many individuals. Standard Deduction and Personal Exemptions : The act nearly doubled the standard deduction and eliminated personal exemptions. Post-2025, the standard deduction is expected to decrease, and personal exemptions may be reinstated. Child Tax Credit : The credit was increased from $1,000 to $2,000 per child under the TCJA. After 2025, it is slated to revert to $1,000, with lower income thresholds for phase-out. State and Local Tax (SALT) Deduction Cap : The TCJA capped the SALT deduction at $10,000. This cap is set to expire, potentially restoring the full deduction for state and local taxes. Estate and Gift Tax...

For families with increasing net worth, a common concern is the lasting impact of their financial success on future generations. The adage, “shirtsleeves to shirtsleeves in three generations,” serves as a cautionary reminder of how wealth can be depleted when not thoughtfully managed.  Here’s how the pattern generally unfolds: 1.    First Generation (Wealth Creators):  The initial generation works hard, often starting from humble beginnings ("shirtsleeves") to build wealth through entrepreneurship, investments, or hard labor. This group typically understands the value of money and has the discipline to accumulate wealth. 2.    Second Generation (Wealth Inheritors):  The children of the wealth creators grow up with a more comfortable lifestyle, benefiting from the fruits of their parents' labor. While some may preserve and grow the wealth, others may lack the same level of financial discipline or work ethic as their parents, which can lead to erosion of...