Making the tax cuts permanent helps individuals and companies make decisions now that will have long-term effects on their wealth.
(PRWEB) July 11, 2018
Julio Gonzalez, tax reform expert, and CEO of Engineered Tax Services appeared on Fox & Friends with Ed Henry on July 1 to discuss the next phase of the Tax Cuts and Jobs Act. On the show, he outlined President Trump's focus for Tax Reform 2.0 and how Americans can benefit from the changes.
Tax Reform 2.0 is the President's plan to expand the tax breaks created in the current tax bill by reducing rates further and making them permanent. The next phase also includes more business credits and incentives designed to stimulate entrepreneurship. Additionally, it promotes individual retirement savings and corrects some technical errors that naturally occur during any sweeping changes to the tax code.
According to Gonzalez, the most important aspect of Tax Reform 2.0 is making the tax breaks permanent. "The president wants to make the tax cuts permanent," he says. "Sun-setting tax laws make it more difficult to maximize your benefits because you don't know how the tax rates will change in five or ten years. Making the tax cuts permanent helps individuals and companies make decisions now that will have long-term effects on their wealth."
Gonzalez also points out that passing this next round of tax reform demonstrates that Americans don't have to wait 30 years to see changes to the tax code. It is possible to adjust it even on a yearly basis or during an election year and make alterations as needed.
Engineered Tax Services, Inc. (ETS) is a licensed engineering firm that focuses on federal, state, and local tax benefits. Founder and CEO, Julio Gonzalez, is an expert in tax reform whose strong presence is helping define our current tax laws. Under Gonzalez's guidance and true insight into how the industry is shaping, Engineered Tax Services is one of the largest, fastest growing, and most innovative engineering, energy, and specialty tax credit services firm in the country.
Visit us at http://www.engineeredtaxservices.com.