Here's What Biden's Win Means For Your Taxes

Author: External Author | | Categories: Income Tax Preparation , Individual Tax Preparation , Medium Business Taxes , Small Business Taxes , Small Corporation Taxes

Blogby Speedy Tax Preparation & Bookkeeping Service

Joe Biden is now President-elect of the United States. It’s time to learn what he has planned for your taxes.

One of President Donald Trump’s most consistent attack lines on Democratic presidential candidate Joe Biden has been “He’s going to raise your taxes.” 

While this isn’t true for American households earning less than $400,000 a year, Biden does have big plans to roll back some changes from Trump’s signature tax law, the Tax Cuts and Jobs Act (TCJA). 

However, the fate of his plan rests primarily on the outcome of the runoff elections in Georgia in January. If the Republicans retain control of the Senate, it is expected his tax plans may be unsuccessful. 

Original Article Source Credits:   Forbes , https://www.forbes.com/

Article Written By:  Korrena Bailie and Kemberley Washington

Original Article Posted on:  Nov 13, 2020

Link to Original Article:  https://www.forbes.com/advisor/personal-finance/heres-what-bidens-win-means-for-your-taxes/

CLICK HERE TO READ THE FULL ARTICLE »



READ MORE BLOG ARTICLES