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Donald Trump wins presidential election, fate of TCJA looking up

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2 weeks ago

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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.

View original content to download multimedia:https://www.prnewswire.com/news-releases/donald-trump-wins-presidential-election-fate-of-tcja-looking-up-302297621.html

SOURCE Crowe LLP

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AABE, FPL and Partners Hosted the Blacks in Energy Event and Generator Build Competition at Palm Beach Lakes Community High School

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19 minutes ago

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November 23, 2024

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Black Energy Awareness Month event in West Palm Beach.

WEST PALM BEACH, Fla., Nov. 23, 2024 /PRNewswire-PRWeb/ — In recognition of Black Energy Awareness Month, members of the American Association of Blacks in Energy (AABE), Florida Chapter, partnered with Florida Power & Light Company (FPL), and others, to host and conduct a Generator Build Competition at Palm Beach Lakes Community High School in West Palm Beach, Florida.

“It is such a joy and delight to witness the determination of these young and ambitious students who are focused-driven and eager to excel,” says Whitney Walker, Lead Community Relations Specialist with Next Era Energy/FPL.

During the event, high school students were provided with an overview of the energy industry and introduced to the field of engineering. The students met with and heard from engineers and senior managers in the industry, and took part in the generator build competition, where they learned the basics of generator theory and how electric voltage is created. Each member of the competition’s winning team received a $50 gift card.

“It is such a joy and delight to witness the determination of these young and ambitious students who are focused-driven and eager to excel,” says Whitney Walker, Lead Community Relations Specialist with Next Era Energy/FPL.

Other empowering speakers included: Dr. Michelle Saunders, Lead Project Manager – Distribution, Next Era Energy/FPL; Norman Riemer, SECME District Coordinator – Palm Beach County School District; Dion Watson, Director – Next Era Energy Resource Development – Next Era Energy/FPL; Oleg Andric, Department Chair & Professor, Electric Power Technology – Palm Beach State College, and Jasmine Govan, Community Relations Specialist, Next Era Energy/FPL.

This event was made possible by the generous support and involvement of the American Association of Blacks in Energy (AABE) – Florida Chapter, Florida Power & Light Company, NextEra Energy, Inc., the University of Florida – SECME of Palm Beach County School District, Palm Beach State College and Palm Beach Lakes Community High School.

About AABE

Established in 1977, the American Association of Blacks in Energy (AABE) is an association founded and dedicated to ensuring the input of African Americans and other minorities into the discussions and developments of energy policies regulations. The national membership includes more than 1,600 professionals representing every sector of the energy industry. There are 40 chapters located in states, metropolitan areas and college campuses around the country. AABE utilizes the expertise of their members to analyze energy policy and serve as a resource for community leaders, consumers, policymakers and regulators on the impact that these policies have on underrepresented communities.

The members of AABE are committed to building the pipeline of African Americans in leadership positions in the energy industry. Through scholarship programs, students who plan to major in science, mathematics, engineering and technology have the opportunity to receive scholarships on the local, regional and national level. The AABE members have the opportunity for professional development at chapter meetings, regional and national conferences. For more information about the association, visit www.aabe.org.

Media Contact

Bernadette Morris, Sonshine Communications, 1 3059488063 201, bmorris@sonshine.com

View original content to download multimedia:https://www.prweb.com/releases/aabe-fpl-and-partners-hosted-the-blacks-in-energy-event-and-generator-build-competition-at-palm-beach-lakes-community-high-school-302314611.html

SOURCE AABE

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Siemon Introduces Bundled Fiber Trunks for Faster, More Efficient Network Deployments

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1 hour ago

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November 23, 2024

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The Siemon Company, a global leader in network infrastructure solutions, is proud to announce the launch of its new Bundled Fiber Trunks. Designed to streamline fiber optic network installations and reduce deployment time, Siemon Bundled Fiber Trunks offer a cost-effective and reliable option for a variety of projects.

WATERTOWN, Conn., Nov. 23, 2024 /PRNewswire-PRWeb/ — The Siemon Company, a global leader in network infrastructure solutions, is proud to announce the launch of its new Bundled Fiber Trunks. Designed to streamline fiber optic network installations and reduce deployment time, Siemon Bundled Fiber Trunks offer a cost-effective and reliable option for a variety of projects.

Siemon Bundled Fiber Trunks are a game-changer for network installations. By simplifying the process and reducing installation time, we’re empowering our customers to achieve their project goals more efficiently and effectively.

Siemon Bundled Fiber Trunks combine high-performance fiber cables into a single, easy-to-manage bundle, optimizing pathway fill and significantly accelerating installation. With up to a 50% faster deployment rate, this innovative solution helps businesses and organizations reduce project costs and time-to-market.

“Siemon Bundled Fiber Trunks are a game-changer for network installations,” said Tony Walker, Siemon Fiber Product Marketing Manager. “By simplifying the process and reducing installation time, we’re empowering our customers to achieve their project goals more efficiently and effectively.”

Key features of Siemon Bundled Fiber Trunks include:

Streamlined installation: Reduced pathway fill and faster deploymentExceptional performance: Equivalent to single-jacket fiberDurability: Robust construction for reliable performanceVersatility: Available in a wide range of configurations

For more information about Siemon Bundled Fiber Trunks and other Siemon products, please visit www.siemon.com.

About Siemon

Established in 1903, Siemon is an industry leader specializing in the design and manufacture of high-quality, high-performance IT infrastructure solutions and services for Data Centers, LANs, and Intelligent Buildings. Headquartered in Connecticut, USA, with global sales, technical, and logistics expertise spanning 150 countries, Siemon offers the most comprehensive suites of copper and optical fiber cabling systems, racks, cable management, and Intelligent Infrastructure Management solutions. With more than 400 patents specific to structured cabling, Siemon Labs invests heavily in R&D and the development of Industry Standards, underlining the company’s long-standing commitment to its customers and the industry. Through an ongoing commitment to waste and energy reduction, Siemon’s environmental sustainability benchmarks are unparalleled in the industry.

Contact Information

Brian Baum

brian_baum@siemon.com

Media Contact

Brian Baum, Siemon, 1 8609454200, brian_baum@siemon.com

View original content:https://www.prweb.com/releases/siemon-introduces-bundled-fiber-trunks-for-faster-more-efficient-network-deployments-302313831.html

SOURCE Siemon

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Oberon Securities Advises Keens Steakhouse in Sale Transaction

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4 hours ago

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November 23, 2024

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Oberon Securities acted as exclusive advisor to Keens Steakhouse in the sale transaction.

NEW YORK, Nov. 23, 2024 /PRNewswire-PRWeb/ — Oberon Securities, a New York-based middle market investment banking firm, acted as exclusive advisor to Keens Steakhouse in the sale transaction announced yesterday.

With more than 70 senior bankers serving businesses across the country and around the world, Oberon is one of the fastest growing New York City based middle-market investment banking firms. Its clients benefit from the market credibility associated with the firm’s longstanding relationships with many of the nation’s largest and most prestigious institutional investors. Oberon’s approach has generated numerous long-term, multi-transaction client engagements and attracted investment bankers who have spent their careers working with middle-market companies.

Media Contact

Steven Alschuler, Oberon Securities, 1 917-647-2151, steve@alschulerpr.com, https://oberonsecurities.com/

View original content to download multimedia:https://www.prweb.com/releases/oberon-securities-advises-keens-steakhouse-in-sale-transaction-302314708.html

SOURCE Oberon Securities; Oberon Securities

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