Misconceptions of the Tax Code: Are We Under Trump or Biden’s Tax Code?
Did you know we're STILL operating under the Trump Tax Cuts and Jobs Act from 2017? Many think things have changed under Biden, but the reality is we’re still following Trump’s tax code—and he wants to make it permanent! 🙌
Here’s what you need to know:
No More Meals & Entertainment Deductions: You used to write off client outings, season tickets, etc., but that’s now gone! 🚫
Itemized Deductions Changed Forever: Work meals, uniforms, union dues? You can’t write those off anymore. ❌
Expiring in 2025: The current tax code will expire soon, and Trump wants to keep it permanent, while Democrats are pushing for big changes. ⚖️
💼 These changes affect business owners, employees, and freelancers—could they impact YOU?
📊 Watch the full video for the complete breakdown of what’s happening with the tax laws and how they’ll affect your wallet in 2024 and beyond!
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💡 Key Takeaways:
-Trump’s tax laws are still in effect.
-Expiration is set for 2025—changes are coming!
-What the Democrats propose for the future of tax laws.
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