Harper, Rains, Knight & Company, P.A.

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

8/17/20 Uncategorized

Article Highlights:

Tax Issues
Current Law
Trump Proposals
Biden Proposals

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.

(Click the image to increase size)

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. Please feel free to contact our office to schedule an appointment.