CHICAGO (Nov. 9, 2016) – Following a lengthy and contentious campaign season, the American public has elected Donald Trump as president of the United States. It remains to be seen whether President-elect Trump will preside over significant tax reform, but according to the following summary developed by Crowe Horwath LLP, there are several things to consider across the spectrums of corporate, individual, international, and estate and gift taxation. Crowe is one of the largest public accounting, consulting and technology firms in the U.S.
“As expected, tax policy was a hot button issue on the campaign trail and, conveniently, this election year coincides with the 30th anniversary of the Tax Reform Act, which was the last time sweeping changes were made,” said Howard Wagner, Crowe National Tax Services managing director. “With the election of Donald Trump, we’ll likely see a push around unraveling the tax code, including significant rate reductions for corporations and individuals, as well as radically changing the current international tax system.”
Below are key aspects of President-elect Trump’s proposed tax policy and how they will affect your bottom line if Congress should approve them.
Estate and Gift Tax
For more information please visit www.crowehorwath.com/lp/2016-presidential-election-tax-policy-resource-center.
About Crowe Horwath LLP Crowe Horwath LLP (www.crowehorwath.com) is one of the largest public accounting, consulting, and technology firms in the United States. Crowe uses its deep industry expertise to provide audit services to public and private entities while also helping clients reach their goals with tax, advisory, risk and performance services. Crowe is recognized by many organizations as one of the country's best places to work. Crowe serves clients worldwide as an independent member of Crowe Horwath International, one of the largest global accounting networks in the world. The network consists of more than 200 independent accounting and advisory services firms in more than 130 countries around the world.
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