Business Owners Reveal Sentiments on Proposed Tax Legislation and Impact on Tariffs in Recent Sikich Webinar

CHICAGO – April 11, 2025 – Sikich, a Chicago-based leading global technology-enabled professional services company, released results from a recently conducted, real-time webinar poll that shed light on provisions businesses can take amidst the changes in legislation, based on industry experts’ professional opinions. The webinar survey polled tax professionals on their outlooks on changes in tax policy, how their strategies might shift based on the proposed changes in policy and how tariffs could affect businesses. 

Business owners were interested in possible changes to corporate tax rates, with 52% indicating they would consider changing their entity status if the corporate tax rate were lowered to 15%. The poll also found strong support for the reinstatement of key provisions from the Tax Cuts and Jobs Act (TCJA), with 56% of respondents favoring a 100% return of bonus depreciation, followed by 27% favoring immediate expense of R&D costs. 

Additionally, the survey results revealed the impact of tariffs, with 75% of middle market business owners reporting that tariffs would have a moderate to significant effect on their business.  

“With legislative changes, it’s important for businesses to proactively strategize how to be adaptive,” said Tom Bayer, principal, Sikich. “Analyzing how others in the industry foresee the effects of policy changes on their businesses provides guidelines for business owners to model after as they plan. These changes are inevitable, and utilizing expert insights will assist in a successful course of action.” 

Stay ahead on proposed tax legislation by watching the Sikich webinar Navigating Possible Tax Legislation and IRS Updates. 

 
About Sikich  

Sikich is a Chicago-based global company specializing in technology-enabled professional services. With approximately 2,000 employees, Sikich draws on a diverse portfolio of technology solutions to deliver transformative digital strategies. From corporations and not-for-profits to state and local governments and federal agencies, Sikich clients utilize a broad spectrum of services and products to help them improve performance and achieve long-term, strategic goals.  

Sikich practices in an alternative practice structure in accordance with the AICPA Professional Code of Conduct and applicable law, regulations, and professional standards. Sikich CPA LLC is a licensed CPA firm that provides audit and attest services to its clients, and Sikich LLC and its subsidiaries provide tax and business advisory services to its clients. Sikich CPA LLC has a contractual arrangement with Sikich LLC under which Sikich LLC supports Sikich CPA LLC’s performance of its professional services. Sikich LLC and its subsidiaries are not licensed CPA firms. 

“Sikich” is the brand name under which Sikich CPA LLC and Sikich LLC provide professional services. The entities under the Sikich brand are independently owned and are not liable for the services provided by any other entity providing services under the Sikich brand. The use of the terms “our company”, “we” and “us” and other similar terms denote the alternative practice structure of Sikich CPA LLC and Sikich LLC.   

###