Tuesday's presidential debate between Vice President Kamala Harris and former President Donald Trump covered a wide range of national issues, but tax policy received little attention. To discuss the candidates' contrasting tax proposals, Gordon Law Tax Attorney and CPA Andrew Gordon joins Wealth!
Gordon highlights a key difference in their tax policies, including the future of the Tax Cuts and Jobs Act, which took effect in 2018. This act aimed to reduce taxes for Americans, but has several provisions that are set to expire next year.
"Both of them want to reduce taxes, although they want to do so in different ways," Gordon explains to Yahoo Finance. However, he cautions that adding more deductions complicates the tax code, making it increasingly challenging for Americans to file their taxes.
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This post was written by Angel Smith