Crowe shares what a Trump administration could mean for tax policy and the Tax Cuts and Jobs Act

CHICAGO, Nov. 6, 2024 /PRNewswire/ — Donald Trump has been elected the 47th president of the United States. Throughout the election season, Trump took to the campaign trail with tax proposals that include making many of the expiring Tax Cuts and Jobs Act (TCJA) provisions permanent. Now the fate of these provisions is in the hands of Congress. Crowe LLP, a public accounting and consulting firm, reveals more on his tax proposals.

“Even though the House is still up for grabs, with Republicans controlling the Senate, Trump is significantly more likely to make good on many of the tax policies he has been campaigning on, including making popular provisions of the expiring TCJA permanent and increasing tariffs,” said Rochelle Hodes, Crowe Washington national tax principal. “Time is ticking for the TCJA, which will take center stage in Congress over the next year. With a Trump win and the Senate on his side there is a better chance of extending TCJA, but without offsets, the cost of making its expiring provisions permanent is significant.  For a party that is generally opposed to increased government spending, getting to a consensus on how to address that cost might be difficult. Taxpayers should continue to monitor developments and evaluate their current tax position to prepare for change – nothing is certain and there will be a lot on the table leading up to the TCJA cliff at the end of next year.”

Below are key aspects of the Trump campaign’s tax proposals, which may shed light on the tax policies he’ll advocate for in his administration. It will also be important to keep an eye on tariffs under a Trump administration.

Individual tax (including estate tax and gift tax)

Make most of the expiring TCJA provisions permanent, including the higher standard deduction, the lower top marginal tax rate, the lower capital gains rate, and the higher estate and gift tax exemptionAllow the TCJA limit on the deduction for state and local taxes to expireAllow a deduction for interest on loans to purchase automobiles made in the U.S.Allow a deduction for the cost of home generators in states hit by natural disastersExpand qualifying tuition programs to cover homeschoolingEliminate income tax on Social Security benefitsExclude tips from income tax and payroll taxExclude overtime pay from tax, though it is unclear whether this applies solely to income tax or to both income and payroll taxEliminate double taxation for U.S. citizens overseas

Business tax

Decrease the corporate tax rate from 21% to 15%Make the TCJA Section 199A pass-through business deduction permanent

Energy tax and real estate tax

Repeal energy tax incentives enacted under the Inflation Reduction ActProvide tax incentives for first-time homebuyers

For more information, visit Election 2024: Tracking tax issues.

About Crowe  
Crowe LLP is a public accounting and consulting firm that uses its deep industry expertise to provide audit, tax, and consulting services to public and private entities. Crowe is recognized by many organizations as one of the best places to work in the U.S. As an independent member of Crowe Global, one of the largest global accounting networks in the world, Crowe serves clients worldwide. 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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SOURCE Crowe LLP

DELRAY BEACH, Fla., Nov. 6, 2024 /PRNewswire/ — The Video surveillance market is expected to be valued at USD 54.42 billion in 2024 and is projected to reach USD 88.71 billion by 2030, growing at a CAGR of 8.5% during the forecast period according to a new report by MarketsandMarkets™. Additions to existing applications in various industries and technological advancements in video surveillance product offerings are key factors driving the expansion of the video surveillance market. Restraints such as privacy concerns and bandwidth and storage issues hinder market growth. However, factors such as expansion in emerging markets and the emergence of smart cities provide lucrative opportunities for market players in the coming years.

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Browse in-depth TOC on “Video Surveillance Market” 
330 – Tables
70 – Figures
330 – Pages

Video Surveillance Market Report Scope:

Hardware by offering to witness the highest market share during the forecast period

Cameras, monitors, and storage devices hold the maximum share in the market of the video surveillance market.  Demand for security across various verticals is acting as driver for the market. High-resolution IP cameras and thermal cameras are gaining wider acceptance because they allow better image clarity under low-light conditions. In addition, the advanced features of modern cameras, such as AI-enabled facial recognition, motion detection, and real-time analytics, further go to enhance them, which are also necessary for the new surveillance system. Even the monitors and storage solutions are significant because the requirement for large-scale monitoring and long-term data retention builds up with the increased deployment of surveillance systems in smart cities and different critical infrastructures. Additionally, it is widely seen that the software capabilities are often accompanied by hardware updates to maintain the evolution of software capabilities and increasing payloads for data processing, where the dominance of hardware continues to prevail. A notable addition includes the steady increase in the need for cameras and associated hardware in the consumer and enterprise markets with the trend toward IoT and smart home solutions. With mushrooming surveillance needs worldwide, hardware will continue to be an important investment in the effective management of security.

Video surveillance market for IP video surveillance systems by system to hold the highest market share during the forecast period

IP video surveillance systems are likely to maintain the highest market share in the video surveillance market due to several key factors. The technology provides superior image quality and better flexibility, and scalability compared to traditional analog systems. As the dimensions of high-resolution video and unhindered system scalability are gaining traction amongst businesses and governments, this makes IP cameras very prone to adoption while giving them the room to integrate with complex software solutions like video analytics, facial recognition, and AI-based monitoring. In addition, the rising demand for smart city projects and infrastructure programs globally is also pushing the need for effective and scalable surveillance solutions that IP systems can easily deliver. The system also facilitates remote monitoring from geographically dispersed sites through cloud-based platforms, thus making it a product in huge demand for large installations spread across diverse locations, further propelling the demand among enterprises as well as among urban centers. Moreover, continuous shifts toward wireless connectivity and gradually decreasing costs of IP cameras are making them increasingly available to small and medium businesses. The upsurge in security fears about theft, terrorism, and public safety is yet another factor paving the way for new generations of security solutions, of which IP video surveillance stands out in terms of flexibility and integration into modern IT infrastructure. All these tendencies point to the expected dominating positions of the IP systems in the market. 

Infrastructure by vertical in the video surveillance market to exhibit the highest CAGR during the forecast period

Governments and private sectors have identified the security of vital infrastructure, such as airports, railways, highways, energy facilities, and public space, to be of paramount importance. All these institutions pose a great threat to vandalism, terrorism, and also unauthorized access, hence the quest for advanced surveillance systems. Urbanization and smart city initiatives all amount to requiring monitored solutions that ensure not only public safety but also a smooth management of traffic in the infrastructure expansion. Video surveillance systems with AI and analytics capabilities allow real-time monitoring, threat detection, and automated alerts-all of which are critical in securing an expanding urban space. The increased demand for robust security solutions that are secure and protected infrastructure is compelling industries worldwide to go for these strong security solutions. Advanced technologies in facial recognition, thermal imaging, and cloud-based surveillance systems accelerate the process, further increasing the efficiency and scalability of video surveillance systems. The huge growth in the video surveillance market will be driven by the dependency of the sector on such sophisticated solutions to prevent potential threats against their infrastructures.

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Based on region video surveillance market for Asia Pacific is expected to hold the highest CAGR during the forecast period

Asia Pacific is expected to dominate the video surveillance industry as urbanization and infrastructure in the region are rapidly expanding. The vast growth of smart city projects and public transport systems, as well as development in industrial zones in countries like China, India, and Japan, is definitely contributing to this emerging demand for video surveillance solutions. The increasing crime rate is also a driver for the market. The increasingly popular technologies in the Asia Pacific, including AI-based video analytics and cloud-based surveillance, are also supported by favorable policies and government initiatives. The importance is that security cameras and video surveillance systems from China occupy a significant share in the production and deployment of security cameras and video surveillance systems globally, and this significantly contributes to Asia’s overall domination in this field. Further, the increase in smart home security and demand for surveillance in the commercial sector, including retail, banking, and manufacturing, is fueling market growth further. Altogether, these factors make Asia Pacific a key region for video surveillance solutions.

Key Players

The video surveillance companies includes major Tier I and II players like Hangzhou Hikvision Digital Technology Co., Ltd. (China), Dahua Technology Co., Ltd (China), Honeywell International Inc. (US), Motorola Solutions, Inc. (US), Bosch Sicherheitssysteme GmbH (Germany) and others. These players have a strong market presence in advanced packaging across various countries in North America, Europe, Asia Pacific, and the Rest of the World (RoW).

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Related Reports: 

AI in Video Surveillance Market Size by Hardware (AI Cameras, Monitors, Storage Devices, Servers), Software (AI Video Management Software, AI-Driven Video Analytics), Service (VSaaS), Deployment (On-premises, Cloud-based), Vertical – Global Forecast to 2028

Video Analytics Market by Offering, Application (Intrusion Management, Incident Detection, and Traffic Monitoring), Deployment Model, Type, Vertical (Critical Infrastructure, Government & Defense, and Manufacturing) and Region – Global Forecast to 2028

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New 25 kA/Phase SPDs Are Most Economical In Company’s Extensive Line

IRVINE, Calif., Nov. 6, 2024 /PRNewswire-PRWeb/ — Transtector, an Infinite Electronics brand and a leading provider of end-to-end power and signal integrity solutions, has just introduced a new line of AC surge protectors for LED lighting and whole home surge protection. They are panel-style and rated to be located indoors or outdoors.

The new AC SPDs (surge protective devices) feature a 25 kA/phase 8/20 µs lightning protection surge capacity that is ideal for LED lighting and whole home surge protection. It provides a more economical option in Transtector’s product line, which already includes 50 kA, 100 kA, 200 kA and 300 kA/phase capacity protectors.

The products meet NEC Article 230.67 standards, which require all new AC services that feed dwelling units to be equipped with a surge protector. Also, they are UL 1449 5th Edition Listed, meeting Underwriters Laboratories’ standards for limiting voltage surges, energy absorption capacity, response time and reliability.

The new line includes models tailored for various types of popular electrical services. The 277 VAC single-phase model is the most common for LED lighting. The versions with 120/240 VAC split-phase are ideal for dwelling units. Other models handle 208/120 VAC Wye, 277/480 VAC Wye and 480 VAC Delta.

The AC SPDs employ thermally protected metal oxide varistor (MOV) technology. MOV is renowned for its quick reaction to voltage spikes, clamping excess voltage levels almost instantaneously. It also has high energy absorption and is both compact and cost-effective.

The new outdoor SPDs are housed in panel-mount NEMA 4X enclosures that seal out dirt, dust and water. Other features include low-voltage protection ratings and LED status indicators. In addition, no external backup fuse is required.

“The 25 kA/phase surge capacity and compact size of these SPDs are ideal for LED lighting and whole home surge protection,” said Product Line Manager Dan Rebeck. “They provide another option in our extensive product line for our customers to select the SPD that is best suited for their protection applications.”

Transtector’s new AC surge protectors for LED lighting and whole home surge protection are in-stock now and available for immediate shipment.

About Transtector:

Transtector leads the industry with a comprehensive product portfolio and expertise in consulting, design and manufacturing of AC, DC, data and signal surge protection, communications power cabinets, EMP protection and power quality engineering services. Transtector provides valuable end-to-end power and signal integrity solutions for markets that include telecommunications, medical imaging, transportation, energy, security and the military.

About Infinite Electronics:

Infinite operates a global portfolio of leading in-stock connectivity solution brands. The brands help propel the world’s innovators forward by working urgently to provide products, solutions and real-time support for customers. Backed by Warburg Pincus, Infinite’s brands serve customers across a wide range of industries with a broad inventory selection, same-day shipping and 24/7 customer service. Learn more at infiniteelectronics.com.

Media Contact

Peter McNeil, Transtector, +1 (978) 682-6936, pmcneil@infiniteelectronics.com, https://www.infiniteelectronics.com

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SOURCE Transtector