In this episode of The E-Forge Podcast, host Cory Long sits down with renowned tax strategist and fractional CFO Ron Fossum to break down the new Trump Tax Bill, a nearly 900-page game-changer every Kingdom entrepreneur needs to understand. Whether you’re just getting started or running a multi-seven figure business, the changes packed into this new bill will likely impact you, and you won’t hear these insights anywhere else.
Ron and Cory pull back the curtain on qualified business income deductions (QBI), updates to Section 179 and bonus depreciation, and the redefinition of research and experimentation (R&E), with surprising applications from bourbon distillers to gluten-free bakeries. They cover hidden landmines in tip and overtime deductions, and the clever design behind the Trump Account, a new tax-advantaged savings plan for kids that could potentially create generational wealth.
If you’re still relying on a basic CPA or tax preparer, you’re probably leaving tens, or hundreds, of thousands of dollars on the table. Ron breaks down why tax strategy is not just compliance, it’s leverage.
Key Takeaway Points:
The difference between tax planners vs. tax preparers
Entity structure analysis: Are you even in the right one?
Major updates to 1099 thresholds, senior deductions, and C Corp stock sales
Why “permanent” in the tax code doesn’t actually mean forever
Real-world strategies for businesses earning $100K to $10M+
Want to know if you’re leaving money on the table? Visit taxplanwealth.com, click “Contact Us,” and mention E-Forge to get $500 off your analysis. Don’t wait for tax season, get strategic now.
“Permanent in the tax code doesn’t mean forever; it means until the next administration changes it.”
Disclaimer -
This video is for educational and informational purposes only. It does not constitute financial, tax, or legal advice. Always consult with a licensed tax professional or financial advisor to discuss your specific situation.