Trump, Taxes & The IRS: What’s Next?
Taylored Tax · Terrence Taylor, Big Al Darnell Jr
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Show Notes
In this episode of the Taylored Tax Show, hosts Terrence Taylor and Big Al Darnell Jr. dive into the topic of Trump and taxes, focusing on two key areas: the potential permanence of the Trump Jobs Act tax cuts from 2017 and the speculative idea of eliminating the IRS. They discuss the implications of making the tax cuts permanent, outlining the benefits and any potential downsides. Additionally, they explore the concept of replacing income tax with tariffs, pondering what such a shift would mean for taxpayers. Tune in for insights and lively discussion on these pressing tax issues.
"That particular act probably did more for taxes and for Americans saving on their taxes than anything else."
Highlights:
[00:01:34] Trump tax cuts and IRS.
[00:07:35] IRS elimination discussion.
[00:09:43] Bonus depreciation benefits for businesses.
[00:14:11] SALT deduction limitations impact.
[00:19:06] IRS Replacement Discussion.
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