What will Trump's presidency mean for tax professionals? Do you think we'll all still have our jobs in a year?

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Nope. He's cancelling taxes.

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I will never forget what a partner said to me when I first started working eight years ago and people were talking about accountants losing jobs because of the most recent gossip out of Washington regarding simplification of the tax code. "The government never simplifies anything. Any time the government gets involved it's the accountant's full employment act."

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We will be even busier as tax policy changes. It will start with speculation, turn into bills, then enactment, then planning. His cash repat if it's true is huge for cash planning and global restructuring.

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Yes

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🤓😂 PWC1

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He would only simplify rates, which I barely even know as a tax accountant

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PWC1 😜

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That is true. Individuals and corps with foreign subs or parents will be cookin

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Lol

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Why wouldn't we?... what changed?

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This will be historical, there will be restructuring it would be wise for firms to heavily advertise their consulting services.

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For better or worse, there's gonna be lots of changes for tax laws ... whether it's good for the country is another thing. Knowing his presidency, it will probably benefit real estate if anything

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If he dismantled SOX all accounting firms will be in trouble

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Simplifying the tax code

Please, the special interest groups will continue to sway the votes of representative and senators.

We dont know what he is going to do with taxes. Yes, you get to keep your job, as he has no plans to abolish them.

If anything, Trump will massively increase tariffs, which will create a LOT of work for tax professionals as companies restructure to react to changing tax law.

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