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What Are the Tax Plans of the Major Parties' Presidential Candidates?

What Are the Tax Plans of the Major Parties' Presidential Candidates?

As the November elections approach, you might want to know what the two front-running presidential candidates' tax plans for the future are. The following is an overview of their positions, at least what is known now. However, the political and economic landscapes can change, and there is no assurance these plans won't be revised or that they will have eventual Congressional backing. However, the information may be helpful as you look toward future tax planning.

These are just proposals of what changes might happen based on the election results. It takes acts of Congress to move plans into law. With various scenarios in play, it might be wise to look at proactive tax planning to minimize future tax liability. Find a 5-star tax professional to meet your needs at TaxBuzz.com/match.

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Lee Reams, BSME, EA

Lee Reams, BSME, EA

Editor-in-Chief

Besides his role at CountingWorks as an educator and speaker to thousands of accountants nationwide, Lee manages a technical research service for a large group of tax accountants which sharpens his technical skills. Lee served on the Board of Blackline Systems, is a former Board of Director for the California Tax Education Council, is a Past President of the San Fernando Valley Chapter of Enrolled Agents, Member and Past Director for the California Society of Enrolled Agents.

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