Massive Changes in the Tax Law & How to Prepare Now – Tom Wheelwrigh
Join Tom Wheelwright as he discovers how entrepreneurs can prepare for the massive changes in the tax law with Trump's second term.
Tom Wheelwright is a CPA, CEO of WealthAbility and Best-Selling Author of Tax-Free Wealth. Wheelwright is a leading wealth and tax expert, global speaker, and Entrepreneur Magazine Contributor. Tom is best known for making taxes fun, easy and understandable, and specializes in helping entrepreneurs and investors build wealth through practical and strategic ways that permanently reduce taxes.
In this episode, learn what you need to do with your tax advisor between now and April, and gain insight on the benefits we will continue to receive – or lose.
Order Tom’s book, “The Win-Win Wealth Strategy: 7 Investments the Government Will Pay You to Make” at:
00:00 – Introduction
02:29 – Inflation: Massive Increases to Deficit or Pay for What We Get
03:23 – Corporate Taxes
07:23 – State Local Tax Deduction Increase
08:34 – Taxing Tips, Social Security, Overtime, etc.
10:15 – Will we continue to get Bonus Depreciation?
13:33 – Research and Development Deduction
14:56 – Clean Energy Incentives
15:44 – Step 1: Write to your member of Congress.
17:54 – Step 2: Set up your business correctly.
18:49 – Step 3: Plan of action.
Tom Wheelwright, #CPA is a Best-Selling Author, Entrepreneur & Worldwide Authority on Tax.
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DISCLAIMER: WealthAbility® does not provide tax, legal or accounting advice. The materials provided have been prepared for informational purposes only, and are not intended to provide tax, legal or accounting advice. The materials may or may not reflect the most current legislative or regulatory requirements or the requirements of specific industries or of states. These materials are not tax advice and are not intended or written to be used, and cannot be used, for purposes of avoiding tax penalties that may be imposed on any taxpayer. Readers should consult their own tax, legal and accounting advisors before applying the laws to their particular situations or engaging in any transaction.
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Disclaimer: The information provided in this video is for educational and informational purposes only. It should not be considered as financial advice or a recommendation to buy or sell any financial instrument or engage in any financial activity.
The content presented here is based on the speaker's personal opinions and research, which may not always be accurate or up-to-date. Financial markets and investments carry inherent risks, and individuals should conduct their own research and seek professional advice before making any financial decisions.
Wow I’m the first view.
And you know what else is massive
Dee’s Nuts
I’m the third ❤🎉
Can you tell me if I need to file if my income is less than 50,000. Thanks
Yes you do its earned income any earned income technically needs to be reported.
Pay your taxes folks…Ukraine depends on it!
If you want to make money online, the book I recommend is “The Gilded Nexus of Prosperity”
I know about that book, my father told me about it
Really good high level vid, these are great thanks.👍
They have already been working on crypto regulations, so it won’t take until the end of the year to get them in America, when other nations have already created their crypto regulations for their countries.
❤❤❤❤❤
I think it’s essential to emphasize the importance of diversification and risk management. Many people are scared of the stock market because they don’t understand it
I agree with you..education is key I’ve been sharing resources and articles with my friend’s to help them learn more about investing
I’m so glad i started investing in the stock market…it’s helped me pay off my mortgage faster and build a safety net
I completely agree! Investing has allowed me to tackle my debt and start saving for retirement. It’s amazing how much of a difference it can make
I’m so grateful for the financial freedom that investing has given me. I no longer stress about making ends meet or paying off my mortgage
It’s amazing how much money you can save by investing in the stock market instead of letting it sit in a low-interest savings account. I’ve been able to save thousands!