With the next year’s elections on the way and Paul Ryan recently becoming the new House Speaker, there has been talk of changes tax changes in 2016. Matt Becker, the BDO USA regional managing partner for tax services stated, “Whether Speaker Ryan will be able to bridge the partisan divide remains to be seen; however, there is no question that politics will shape the business tax landscape in the months and year ahead. Tax reform has already taken center stage at the presidential TAX REFORMprimary debates and will continue to dominate the presidential race up to the November 2016 election.”
Should businesses be wary?
Brecker also mentioned that with the New Year arriving businesses might find the new tax regulations challenging. Taxes are already difficult enough, but when it comes to the election year, that can add an extra amount of stress on top.