How the Upcoming Election Will Impact Our Taxes – Tom Wheelwright & Scott Hodge

Join Tom Wheelwright as he discovers how tax policy influences your life, how it harms – and sometimes helps – the economy, and what changes are in store in this year’s election with his guest, Scott Hodge.

Scott Hodge is President Emeritus & Senior Policy Advisor at the Tax Foundation, which he led as President for over two decades, between 2000 and 2022. Scott Hodge is recognized as one of Washington’s leading experts on tax policy, the federal budget, and government spending.

In this episode, learn how class warfare has a huge impact of the future of the tax code, predictions for 2025 / 2026, and the advice Scott has for the small business community.

Order Tom’s book, “The Win-Win Wealth Strategy: 7 Investments the Government Will Pay You to Make” at: https://winwinwealthstrategy.com/

00:00 – Intro.
02:48 – Taxes on Free Will.
09:00 – Current examples of Taxocracy.
11:40 – History of Political Favors & Punishment.
14:44 – Biggest concerns in Biden's Budget.
19:36 – Small Business Tax Provisions in Biden's Budget.
22:50 – Corporate Tax Increase.
26:17 – 2025-2026 Predictions.
30:05 – Advice to Small Business Owners.
32:10 – Inflation Reduction Act.
36:40 – Employee Retention Credit.

Tom Wheelwright, #CPA is a Best-Selling Author, Entrepreneur & Worldwide Authority on Tax. https://wealthability.com/tom/

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Resources
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Tom’s Book: Tax-Free Wealth https://taxfreewealthbook.com
Visit WealthAbility® https://wealthability.com/
Sign up for Tom’s Free Weekly Report https://wealthability.com/getreport/
Schedule A Call With My Team https://wealthability.com/schedulecall/

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Social Media
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Facebook (Tom Wheelwright) / tom.wheelwright.cpa
Facebook (WealthAbility®) / 4wealthability
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Youtube (Tom Wheelwright) / @tomwheelwrightcpa

Looking for more on Scott Hodge?

Website: https://taxfoundation.org/
Books: “Taxocracy: What You Don’t Know About Taxes and How They Rule Your Daily Life”

DISCLAIMER: WealthAbility® does not provide tax, legal or accounting advice. The materials provided have been prepared for informational purposes only, and are not intended to provide tax, legal or accounting advice. The materials may or may not reflect the most current legislative or regulatory requirements or the requirements of specific industries or of states. These materials are not tax advice and are not intended or written to be used, and cannot be used, for purposes of avoiding tax penalties that may be imposed on any taxpayer. Readers should consult their own tax, legal and accounting advisors before applying the laws to their particular situations or engaging in any transaction.
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Disclaimer: The information provided in this video is for educational and informational purposes only. It should not be considered as financial advice or a recommendation to buy or sell any financial instrument or engage in any financial activity.

The content presented here is based on the speaker's personal opinions and research, which may not always be accurate or up-to-date. Financial markets and investments carry inherent risks, and individuals should conduct their own research and seek professional advice before making any financial decisions.