Financial Planning Email Newsletter: A pocketbook election (August 20, 2024)

A pocketbook election

Tax Tuesday

August 20, 2024

By Tobias Salinger Chief Correspondent

Add a heavy dose of tax policy into the mix of issues that will be largely decided by this year's presidential election and the down-ballot races in Congress.

That's because most of the Tax Cuts and Jobs Act of 2017 will expire at the end of next year. The tax debate between Vice President Kamala Harris and former President Donald Trump is taking center stage — at least as far as the industry and its clients are concerned — as Democrats meet this week in Chicago for their party's convention.

Check out the story below and have a great week.

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TOP STORIES

Politics and policy

Tax deadline next year looms large as Democrats rally in Chicago

Vice President Kamala Harris and former President Donald Trump have laid out widely divergent plans for handling the sunset date for many parts of the TCJA.

QBI tax break — should it stay or should it go?
The 20% deduction for the qualified income of pass-through entities has strong supporters and critics. Here's how tax experts say it could play out if made permanent.

The taxman tango: The key tax question about gambling income
Financial advisors and tax professionals with clients who bet online or at casinos must guide them through the choice of classifying as amateur or professional.

Harris takes aim at Wall Street housing ownership in first economic speech
Vice President Kamala Harris outlined a raft of populist economic proposals in her first major economic speech since securing the Democratic presidential nomination, including some aimed at lowering housing costs and boosting supply.

26 tips on expiring Tax Cuts and Jobs Act provisions to review before 2026
From politics to practice management and a variety of planning strategies, the law is posing questions for financial advisors, tax professionals and their clients.

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A pocketbook election

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