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Trump vs. Harris: The 2024 Tax Plan Showdown – How Their Changes Could Affect YOU!
Manage episode 444729538 series 3574148
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🎙️ Ask Jenni: Election 2024 Tax Breakdown – What You Need to Know! 🎙️
As we head into Election Season 2024 and Tax Season 2024 approaches, it's the perfect time to dive into the biggest tax law changes on the horizon! In this episode, I break down the key tax proposals from both Trump and Harris and how they impact your wallet.
🔑 Key Highlights:
Harris Tax Plan: Proposed capital gains taxes on unrealized gains at death beyond the $5M exemption and raising capital gains to 28% for those earning over $1 million annually.
Trump Tax Code: The current tax code, still in effect until 2025, could be made permanent under Trump’s plan. He’s also considering eliminating income tax, which might lead to a higher cost of living due to increased tariffs on imports.
Child Tax Credit & Tip Income: Both candidates want to increase the child tax credit and eliminate taxes on tip income—a potential win for families and service industry workers.
💡 Why It Matters: The upcoming election will shape our economy and tax laws for years to come. Make sure you're informed about what’s at stake before you cast your vote this November!
📌 Don't Miss This! Stay tuned to learn how these tax plans could impact you, whether you’re a business owner, entrepreneur, or everyday taxpayer.
🔗 Like, Comment, Subscribe and share this episode with your community. Let’s keep the conversation going—election 2024 is not just about candidates, it’s about your future and finances!
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