Tax Policy Proposals and Impacts

In this episode of the Shares podcast, Eric Ludwig, PhD, CFP®, Retirement Income Certified Professional® (RICP®) Program director at The American College of Financial Services, speaks with Tax Planning Certified Professional™ (TPCP™) Program director Sophia Duffy, JD, CPA, AEP® about the possible tax policy changes contained in the “One Big Beautiful Bill Act” currently making its way through Congress. In addition to making many of the changes put in place in the 2017 Tax Cuts and Jobs Act (TCJA) permanent, they discuss some exciting possibilities for tax-informed financial planning, including new exemptions and deductions for business owners (such as financial advisors!), expanded uses for 529 and HSA accounts, cap changes for state and local taxes, and more.

Sophia Duffy, JD, CPA, AEP® is an associate professor of business planning and program director for the Tax Planning Certified Professional™ (TPCP™) Program at The American College of Financial Services. She teaches classes in estate planning, small business planning, and taxation at the graduate and undergraduate levels.

Duffy has published research on a variety of issues related to financial planning, including discrimination in AI-based insurance underwriting, the vulnerability of aging investors, and award-winning research on Social Security planning for high-income-earning women.

Duffy earned a Juris Doctorate (JD) from the Temple University James E. Beasley School of Law and a Bachelor of Science in Accounting from Rutgers University. She is also a Certified Public Accountant (CPA) and an Accredited Estate Planner® (AEP®).

Any views or opinions expressed in this podcast are the hosts’ and guests' own and do not necessarily represent those of The American College of Financial Services.

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