How This Election Will Change Every American’s Tax Bill

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With the election rapidly approaching, it is critical for all Americans to understand how each candidate’s tax proposals could potentially impact their tax bill. Tax policies are one of the most important issues when it comes to presidential elections, and both Donald Trump and Kamala Harris have extremely different tax plans.

In this video, tax expert Karlton Dennis breaks down exactly how the tax proposals of each candidate could affect the taxes of Americans. He covers a wide range of topics from both Trump and Harris, including proposals for capital gains, tips, the child tax credit, tariffs, startup expenses, and more.

While it is unlikely that all of either candidates’ tax policies will become law, it is very likely that at least some of them could. So, some of the proposals that Karlton explains will most likely end up impacting millions of Americans. For this reason, this video can help anyone who wants to learn how the election could impact their taxes.

CHAPTERS:
0:00 Intro
0:23 Trump: Corporate Taxes
1:55 Trump: Auto Loan Interest
3:22 Trump: Payroll Taxes
5:06 Trump: Double Taxation for U.S. Residents Overseas
6:07 Trump: Individual Income Taxes
6:57 Trump: No Tax on Tips
8:09 Trump: Tariffs
10:20 Harris: Capital Gains Taxes
11:31 Harris: The Wealth Tax
13:41 Harris: Real Estate
14:53 Harris: 1031 Exchanges
16:47 Harris: Corporate Taxes
17:15 Harris: Startup Expenses Deduction
19:05 Harris: Child Tax Credit
19:58 Harris: No Tax on Tips
20:27 Harris: Increasing the Size of the IRS and the Nubmer of IRS Audits
21:34 Outro

*Disclaimer: I am not a financial advisor nor am I an attorney. This information is for entertainment purposes only. It is highly recommended that you speak with a tax professional or tax attorney before performing any of the strategies mentioned in this video. Thank you.

#uselection #trumptaxes #kamalaharris #trumpvsharris