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Breaking Down the Presidential Candidates’ Key Tax Proposals
ARTICLE | October 01, 2024
Authored by Vasquez + Company
As the presidential campaign heats up, tax policies are at the forefront of debate. The article "Taxes on the Table: What the Presidential Candidates Are Pledging" outlines the key tax proposals from both political candidates, covering taxes on capital gains, corporate rates, tariffs, and more.
Key Points:
- Unrealized Gains & Capital Gains: Harris proposes a tax on unrealized gains and higher rates for wealthy individuals.
- Expiring TCJA Provisions: Both candidates address the looming expiration of the 2017 Tax Cuts and Jobs Act (TCJA) provisions.
- Corporate Tax Rates: While Harris supports raising corporate tax rates, Trump aims to lower them further for American manufacturers.
- Tariffs & Housing Incentives: The two candidates offer contrasting views on tariffs and housing tax incentives for first-time homebuyers.
With both sides presenting distinct approaches, the future of U.S. tax policy remains uncertain. For a closer look at their proposals, read the full article here.
Our firm provides the information for general guidance only, and does not constitute the provision of legal advice, tax advice, accounting services, investment advice, or professional consulting of any kind. The information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisers. Before making any decision or taking any action, you should consult a professional adviser who has been provided with all pertinent facts relevant to your particular situation. This article is not intended to be used, and cannot be used by any taxpayer, for the purpose of avoiding accuracy-related penalties that may be imposed on the taxpayer. The information is provided “as is,” with no assurance or guarantee of completeness, accuracy, or timeliness of the information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose.
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