We appreciate everyone who attended our recent Tax Matters Workshop! Special thanks to CPAs Stephen Joye and Hayley Kilby of Fischer, Hayes, Joye & Allen, LLC for sharing their insight on what the future of tax policy may hold.
The discussion centered around the potential outcomes if the Trump-era tax cuts are extended—and what changes could come if they expire and we return to 2017 tax rules.
Key Highlights:
- If tax cuts are extended:
- Lower income tax rates may remain
- Standard deductions stay higher
- Estate tax exemption continues at current levels
If they expire:
- Higher tax brackets could return
- Personal exemptions may be reinstated
- Estate tax thresholds could be reduced
- Potential changes to deductions—affecting charitable giving, family finances, and more
They also gave an update on Oregon’s legislative activity, including discussions to end the Oregon kicker—a change that could impact many households.
Other areas discussed during the Q & A portion:
Tax Industry Trends:
Stephen and Hayley also offered a candid look at challenges within the CPA profession. Fewer college graduates are entering the field, making it increasingly difficult for people to find CPA firms that are accepting new clients.
Planning vs. Preparation:
- They shared a valuable distinction:
- Tax planning is the strategic, impactful work—setting clients up for the best outcomes.
- Tax preparation is the compliance work—filing returns and measuring how closely the plan was followed.
Missed the event? We’d love to share resources or connect one-on-one. Just reac
