Inadequately Prepared Businesses for 2025 Tax Tradeoff

With an upcoming tax tradeoff looming, the majority of companies find themselves unprepared once again for the impending changes. The world is facing a resurgence of uncertainty and chaos reminiscent of the Trump administration, leaving companies navigating through new trade wars and hoping for another tax windfall. However, the lack of readiness among many manufacturers, retailers, farmers, and families is glaring, as they reconsider whether the benefits from tax cuts outweigh the costs of tariffs and the complexities of restructuring supply chains. As the chapter of the Tax Cuts and Jobs Act (TCJA) comes to an end this year, another significant political battle in 2025 is anticipated over a fresh tax tradeoff, highlighting the urgent need for businesses to strategize and adapt to multiple possible scenarios.