Harris’s tax plan aims to address income inequality, support working families and stimulate economic growth. Her proposals build on existing policies, like the expansion of the child tax credit, while introducing new measures to provide financial relief and incentives for targeted groups.
Kamala harris
Trump’s tax plan aims to extend and build upon the Tax Cuts and Jobs Act (TCJA), focusing on reducing taxes for individuals and businesses to stimulate economic growth. Tariffs play a key role in the Trump campaign’s tax position, with a baseline tariff on all U.S. imports and a 60% tariff on imports from China.
donald trump
new President’s potential tax policies
High-earner and corporate taxes: Raise the top marginal income tax rate on the top 1% to 39.6%. Increase the corporate income tax rate from 21% to 35%.
President-Elect Harris’s tax plan aims to address income inequality, support working families and stimulate economic growth. Her proposals build on existing policies, like the expansion of the child tax credit, while introducing new measures to provide financial relief and incentives for targeted groups.
Child tax credit: Restore and increase the tax credit to $6,000 for children under one year, $3,600 for ages two through five and $3,000 for ages six and up.
Earned income tax credit: Expand the credit for single and joint filers without children to provide more financial support to low-income workers.
Health insurance premium tax credit subsidies: Extend or make permanent the subsidies enacted under ARPA, which expire at the end of 2025.
Tax incentives for homebuyers: Create tax incentives for first-time homebuyers, including up to $25,000 in down-payment assistance.
Tax incentives for small business startups: Expand the startup expense tax deduction from $5,000 to up to $50,000 for small businesses.
High-earner and corporate taxes: Raise the top marginal income tax rate on the top 1% to 39.6%. Increase the corporate income tax rate from 21% to 35%.
Financial transaction tax: Create a financial transaction tax on stock trades (0.2%), bond trades (0.1%) and derivative transactions (0.002%).
Trump: Key highlights
Trump’s tax plan aims to extend and build upon the Tax Cuts and Jobs Act (TCJA), focusing on reducing taxes for individuals and businesses to stimulate economic growth. Tariffs play a key role in the Trump campaign’s tax position, with a baseline tariff on all U.S. imports and a 60% tariff on imports from China.
donald trump
Universal baseline tariff: Impose a 10% or higher universal baseline tariff on all imports, with specific increases on tariffs for Chinese goods.
Two-tier tax system: Create a simplified two-tier tax system for individuals, aiming to streamline the tax code.
Lower capital gains taxes: Reduce capital gains taxes to incentivize investment.
IRS budget cuts: Make significant cuts to the IRS budget to reduce government spending.
Scrutiny of tax reporting: Increase scrutiny on tax reporting to ensure compliance and reduce tax evasion.
Corporate tax rate reduction: Reduce the corporate tax rate from 21% to 15% to encourage business investment and growth.
Individual tax rates and child tax credit: Reduce individual tax rates, significantly cut the top rate and increase the child tax credit to $5,000 per child.
Key highlights
Election impact
The results are in. What does this mean for your business? Explore the impact of election outcomes on your tax strategies and what to do next.
JOIN US JOIN US
JOIN US JOIN US
Hear from our team
WEBINARS
VIEW ALL VIDEOS & WEBCASTS
Live webinar
|
Dec 10, 2024
|
Register now
Post-election perspectives: What you need to know now
Join us on December 10 for the latest insights from our CPAs on new tax legislation and its impact on your financial institution. Topics include tax extender items, high-interest-rate planning, tax credits, IRS updates, remote work implications, the Corporate Transparency Act and state/local tax updates. Earn 1.8 CPE credits just by attending. Register now to secure your spot.
Tax
Financial Institutions
REGISTER NOW
Tax
Private client services
Make the most of tax incentives and deductions with year-end planning tips from Wipfli. Our private client team is hosting an exclusive webinar to help you stay on top of financial and tax planning. Join us on December 5, 2024, to improve your tax plan, learn about election impacts on tax preparation and more, so you can optimize your tax position before the end of the year.
Reduce your personal tax liability with year-end planning tips
REGISTER NOW
Live webinar
|
Dec 5, 2024
|
Register now
Tax
Financial Institutions
Stream this on-demand webinar, featuring Wipfli partners Andrew Seifert and Greg Butler, on “Navigating tax policy changes post-election.” Learn about the key differences between the parties’ tax agendas, potential tax consequences of various election scenarios and best practices for preparing for the future.
Get ready for change
STREAM NOW
On-demand webinar
|
Dec 10, 2024
|
Register now
Corporate tax rates are expected to increase under a Harris administration. Speak with an advisor today to see how this might impact your business’s bottom line and explore strategies to reduce your tax burden.
Small business startups and aspiring entrepreneurs may get a boost, with an expansion to tax deductions for startup costs. Our CPA tax services can help you navigate these changes and get your business started on the right foot.
For high earners, a marginal bracket increase may result in a bigger tax bill in the coming years. Our individual tax services can help you plan for the future.
Harris: Key highlights
Child tax credit: Restore and increase the tax credit to $6,000 for children under one year, $3,600 for ages two through five and $3,000 for ages six and up.
Earned income tax credit: Expand the credit for single and joint filers without children to provide more financial support to low-income workers.
Health insurance premium tax credit subsidies: Extend or make permanent the subsidies enacted under ARPA, which expire at the end of 2025.
Tax incentives for homebuyers: Create tax incentives for first-time homebuyers, including up to $25,000 in down-payment assistance.
Tax incentives for small business startups: Expand the startup expense tax deduction from $5,000 to up to $50,000 for small businesses.
High-earner and corporate taxes: Raise the top marginal income tax rate on the top 1% to 39.6%. Increase the corporate income tax rate from 21% to 35%.
Financial transaction tax: Create a financial transaction tax on stock trades (0.2%), bond trades (0.1%) and derivative transactions (0.002%).
Trump: Key highlights
Universal baseline tariff: Impose a 10% or higher universal baseline tariff on all imports, with specific increases on tariffs for Chinese goods.
Two-tier tax system: Create a simplified two-tier tax system for individuals, aiming to streamline the tax code.
Lower capital gains taxes: Reduce capital gains taxes to incentivize investment.
IRS budget cuts: Make significant cuts to the IRS budget to reduce government spending.
Scrutiny of tax reporting: Increase scrutiny on tax reporting to ensure compliance and reduce tax evasion.
Corporate tax rate reduction: Reduce the corporate tax rate from 21% to 15% to encourage business investment and growth.
Individual tax rates and child tax credit: Reduce individual tax rates, significantly cut the top rate and increase the child tax credit to $5,000 per child.
Stream now
Small business startups and aspiring entrepreneurs may get a boost, with an expansion to tax deductions for startup costs. Our CPA tax services can help you navigate these changes and get your business started on the right foot.
For high earners, a marginal bracket increase may result in a bigger tax bill in the coming years. Our individual tax services can help you plan for the future.
Corporate tax rates are expected to increase under a Harris administration. Speak with an advisor today to see how this might impact your business’s bottom line and explore strategies to reduce your tax burden.
What’s next for your business?
VIEW ALL VIDEOS & WEBCASTS
Kamala harris
Harris: Key highlights
Harris’s tax plan aims to address income inequality, support working families and stimulate economic growth. Her proposals build on existing policies, like the expansion of the child tax credit, while introducing new measures to provide financial relief and incentives for targeted groups.
Kamala harris
Child tax credit: Restore and increase the tax credit to $6,000 for children under one year, $3,600 for ages two through five and $3,000 for ages six and up.
Earned income tax credit: Expand the credit for single and joint filers without children to provide more financial support to low-income workers.
Health insurance premium tax credit subsidies: Extend or make permanent the subsidies enacted under ARPA, which expire at the end of 2025.
Tax incentives for homebuyers: Create tax incentives for first-time homebuyers, including up to $25,000 in down-payment assistance.
Tax incentives for small business startups: Expand the startup expense tax deduction from $5,000 to up to $50,000 for small businesses.
High-earner and corporate taxes: Raise the top marginal income tax rate on the top 1% to 39.6%. Increase the corporate income tax rate from 21% to 35%.
High-earner and corporate taxes: Raise the top marginal income tax rate on the top 1% to 39.6%. Increase the corporate income tax rate from 21% to 35%.
Financial transaction tax: Create a financial transaction tax on stock trades (0.2%), bond trades (0.1%) and derivative transactions (0.002%).
Trump: Key highlights
Trump’s tax plan aims to extend and build upon the Tax Cuts and Jobs Act (TCJA), focusing on reducing taxes for individuals and businesses to stimulate economic growth. Tariffs play a key role in the Trump campaign’s tax position, with a baseline tariff on all U.S. imports and a 60% tariff on imports from China.
donald trump
Universal baseline tariff: Impose a 10% or higher universal baseline tariff on all imports, with specific increases on tariffs for Chinese goods.
Two-tier tax system: Create a simplified two-tier tax system for individuals, aiming to streamline the tax code.
Lower capital gains taxes: Reduce capital gains taxes to incentivize investment.
IRS budget cuts: Make significant cuts to the IRS budget to reduce government spending.
Scrutiny of tax reporting: Increase scrutiny on tax reporting to ensure compliance and reduce tax evasion.
Corporate tax rate reduction: Reduce the corporate tax rate from 21% to 15% to encourage business investment and growth.
Individual tax rates and child tax credit: Reduce individual tax rates, significantly cut the top rate and increase the child tax credit to $5,000 per child.
Universal baseline tariff: Impose a 10% or higher universal baseline tariff on all imports, with specific increases on tariffs for Chinese goods.
Two-tier tax system: Create a simplified two-tier tax system for individuals, aiming to streamline the tax code.
Lower capital gains taxes: Reduce capital gains taxes to incentivize investment.
IRS budget cuts: Make significant cuts to the IRS budget to reduce government spending.
Scrutiny of tax reporting: Increase scrutiny on tax reporting to ensure compliance and reduce tax evasion.
Corporate tax rate reduction: Reduce the corporate tax rate from 21% to 15% to encourage business investment and growth.
Individual tax rates and child tax credit: Reduce individual tax rates, significantly cut the top rate and increase the child tax credit to $5,000 per child.
Key highlights
Donald Trump
President-Elect Trump’s tax plan aims to extend and build upon the Tax Cuts and Jobs Act, focusing on reducing taxes for individuals and businesses to stimulate economic growth. Tariffs play a key role in the Trump campaign’s tax position, with a baseline tariff on all U.S. imports and a 60% tariff on imports from China.
new President’s potential tax policies
Tariffs on imported goods — particularly from China — may increase dramatically, creating uncertainty for businesses that rely on overseas suppliers. Our international tax professionals can explain the changes and help you develop strategies to comply with these new costs.
Increased scrutiny on tax reporting is promised under a Trump administration, making compliance more essential than ever. Our CPA tax services can help you stay on top of reporting regulations.
Corporate tax rates are expected to decrease under a Trump administration. Speak with an advisor today to see how this might impact your bottom line, and explore options for investing your savings in the future of your business.
What’s next for your business?
STREAM NOW
REGISTER NOW
REGISTER NOW
REGISTER NOW
STREAM NOW
Tax
Financial Institutions
Stream this on-demand webinar, featuring Wipfli partners Andrew Seifert and Greg Butler, on “Navigating tax policy changes post-election.” Learn about the key differences between the parties’ tax agendas, potential tax consequences of various election scenarios and best practices for preparing for the future.
Get ready for change
On-demand webinar
|
Dec 10, 2024
|
Register now
Stream now
Tax
Financial Institutions
Make the most of tax incentives and deductions with year-end planning tips from Wipfli. Our private client team is hosting an exclusive webinar to help you stay on top of financial and tax planning. Join us on December 5, 2024, to improve your tax plan, learn about election impacts on tax preparation and more, so you can optimize your tax position before the end of the year.
Reduce your personal tax liability with year-end planning tips
REGISTER NOW
Live webinar
|
Dec 5, 2024
|
Register now
Tax
Financial Institutions
Join us on December 10 for the latest insights from our CPAs on new tax legislation and its impact on your financial institution. Topics include tax extender items, high-interest-rate planning, tax credits, IRS updates, remote work implications, the Corporate Transparency Act and state/local tax updates. Earn 1.8 CPE credits just by attending. Register now to secure your spot.
Post-election perspectives: What you need to know now
REGISTER NOW
Live webinar
|
Dec 10, 2024
|
Register now
Child tax credit: Restore and increase the tax credit to $6,000 for children under one year, $3,600 for ages two through five and $3,000 for ages six and up.
Earned income tax credit: Expand the credit for single and joint filers without children to provide more financial support to low-income workers.
Health insurance premium tax credit subsidies: Extend or make permanent the subsidies enacted under ARPA, which expire at the end of 2025.
Tax incentives for homebuyers: Create tax incentives for first-time homebuyers, including up to $25,000 in down-payment assistance.
Tax incentives for small business startups: Expand the startup expense tax deduction from $5,000 to up to $50,000 for small businesses.
High-earner and corporate taxes: Raise the top marginal income tax rate on the top 1% to 39.6%. Increase the corporate income tax rate from 21% to 35%.
Financial transaction tax: Create a financial transaction tax on stock trades (0.2%), bond trades (0.1%) and derivative transactions (0.002%).
Key highlights
President-Elect Harris’s tax plan aims to address income inequality, support working families and stimulate economic growth. Her proposals build on existing policies, like the expansion of the child tax credit, while introducing new measures to provide financial relief and incentives for targeted groups.
new President’s potential
tax policies
Two-tier tax system: Create a simplified two-tier tax system for individuals, aiming to streamline the tax code.
IRS budget cuts: Make significant cuts to the IRS budget to reduce government spending.
Lower capital gains taxes: Reduce capital gains taxes to incentivize investment.
Universal baseline tariff: Impose a 10% or higher universal baseline tariff on all imports, with specific increases on tariffs for Chinese goods.
Scrutiny of tax reporting: Increase scrutiny on tax reporting to ensure compliance and reduce tax evasion.
Corporate tax rate reduction: Reduce the corporate tax rate from 21% to 15% to encourage business investment and growth.
Individual tax rates and child tax credit: Reduce individual tax rates, significantly cut the top rate and increase the child tax credit to $5,000 per child.
Donald Trump
President-Elect Trump’s tax plan aims to extend and build upon the Tax Cuts and Jobs Act, focusing on reducing taxes for individuals and businesses to stimulate economic growth. Tariffs play a key role in the Trump campaign’s tax position, with a baseline tariff on all U.S. imports and a 60% tariff on imports from China.
What’s next for your business?
Increased scrutiny on tax reporting is promised under a Trump administration, making compliance more essential than ever. Our CPA tax services can help you stay on top of reporting regulations.
Tariffs on imported goods — particularly from China — may increase dramatically, creating uncertainty for businesses that rely on overseas suppliers. Our international tax professionals can explain the changes and help you develop strategies to comply with these new costs.
Corporate tax rates are expected to decrease under a Trump administration. Speak with an advisor today to see how this might impact your bottom line, and explore options for investing your savings in the future of your business.