Dealer Tax Opportunities-Dealer Tax Opportunities

Video Transcription

Video Summary

In this video, tax experts from PwC discuss the potential opportunities for tax planning in 2017. They highlight that tax reform is a hot topic and there is a possibility that tax rates will be reduced in the future. The experts suggest that taxpayers should consider accelerating deductions into 2017 and deferring income into 2018 to take advantage of potential lower tax rates. They provide a list of ideas for tax planning, including accelerating deductions for bad debts, self-insured medical expenses, accrued bonuses, and more. They also mention the benefits of like-kind exchange, which allows taxpayers to defer tax on the sale of assets by investing in new assets. The experts emphasize the importance of getting involved in the conversation around tax reform and providing feedback to Congress. They conclude by stating that taxpayers should be prepared for changes in the tax landscape and take advantage of the opportunities available to them.

Keywords

tax experts

PwC

tax planning

2017

tax reform

tax rates

deductions

income

like-kind exchange

tax landscape