Very good video. You are right, this is why I have been converting my Traditional IRA money to Roth IRA for a few years now, while making sure that I stay in as low a bracket as possible. Thank you.
Nothing about estate and gift taxes? The lifetime exemption goes down to between $6,000,000 and $7,000,000 depending on inflation when the Tax Cuts and Jobs Act ends.
Thank you for your question. The simple answer: Yes. The 199A deduction (also known as the Qualified Business Income Deduction) was created with the passing of the 2017 Tax Cut and Jobs Act (also known as the Trump Tax Cuts). Assuming this Act does expire / sunset at the end of 2025, the 199A will also be discontinued. Thanks for watching.
@OakHarvestFinancialGroup I own shares in REITs and this deduction helped me lower my taxes. It added to my standard deduction. Will foriegn tax credits be affected as well?
I'm not convinced that the lower tax rates won't stay in place for people with modest incomes, if Biden remains in office. I'm not about to vote for an unhinged lunatic, especially simply to try to preserve my modest tax cut.
@trmoore0922 are you defending the rich that they deserve larger tax cuts? It was taxes that built this country after ww2. Taxes and spending cuts are essential right now as opposed to continuing to borrow more money to pay off the interest from money we've been borrowing. Oh no, the super wealthy wont be able to buy a new private plane or yacht next year, they might have to wait another year or two.
If he was giving advise on how to take advantage of Obamacare and you didn’t like Obama would you feel the same? It’s just the name it’s being called because of the person in office at the time. I personally don’t care what it’s called if the advice helps then I’m listening.
![Quando Rondo - Life Goes On [Official Music Video]](http://i.ytimg.com/vi/eIf3fhMXAow/mqdefault.jpg)
1. Brackets will be adjusted for inflation since 2017
2. Standard deduction reduction will be offset by personal exemptions returning
Very good video. You are right, this is why I have been converting my Traditional IRA money to Roth IRA for a few years now, while making sure that I stay in as low a bracket as possible. Thank you.
Everybody should pay fair and equitable taxes. Just because you're rich doesn't mean you're special.
The poor don't pay tax. Over 40% don't pay tax. They should pay, even a little bit.
Good point on itemized deductions. In high tax states the $10k Salt cap goes away.
Thanks for watching and for all your comments, Keith!
The blue screen makes the content virtually invisible. Offwhite with black bolded text. Please.
Need to include the SALT impacts?
Very good video. Subscribed. If i plan to sell rental property, i should sell by the end of 2025 to take advantage of TCJA. Could you please confirm?
Very well done thank you
Thanks @missouri6014!
Fantastic Video!!! Thank you!
Thanks Steve!
Nothing about estate and gift taxes? The lifetime exemption goes down to between $6,000,000 and $7,000,000 depending on inflation when the Tax Cuts and Jobs Act ends.
There is risk by converting as well if tax rates don’t revert or go down in future. Nothing is certain.
Does 199A deduction go away?
Thank you for your question.
The simple answer: Yes.
The 199A deduction (also known as the Qualified Business Income Deduction) was created with the passing of the 2017 Tax Cut and Jobs Act (also known as the Trump Tax Cuts).
Assuming this Act does expire / sunset at the end of 2025, the 199A will also be discontinued.
Thanks for watching.
@OakHarvestFinancialGroup I own shares in REITs and this deduction helped me lower my taxes. It added to my standard deduction. Will foriegn tax credits be affected as well?
I'm not convinced that the lower tax rates won't stay in place for people with modest incomes, if Biden remains in office. I'm not about to vote for an unhinged lunatic, especially simply to try to preserve my modest tax cut.
There are 1000 other reasons to vote this fake regime OUT! Taxes not the most important one.
😂🤣🤣😂 There are 1000 other reasons to kick out the current 🤡
There are 10,000 reasons not to put Trump back in.
Agreed
@@Satjr35031 Agreed, but his cult members don't care.
FDJT LOOK HIM UP ⚖
He’ll be back!
lol no
In court
They are only ending for the working class. He has said he will continue to cut taxes only for the rich.
You mean that’s what Biden will do! Love how backwards and upside the crazies think! 🤡
I think you've got that backwards
@trmoore0922 are you defending the rich that they deserve larger tax cuts? It was taxes that built this country after ww2. Taxes and spending cuts are essential right now as opposed to continuing to borrow more money to pay off the interest from money we've been borrowing. Oh no, the super wealthy wont be able to buy a new private plane or yacht next year, they might have to wait another year or two.
TRUMP 2024 🎉🎉🎉🎉
Brandon is putting Trump away in prison as we watch the train wreck
Let’s go Brandon
The average Joe's tax cuts expire. He gave corporations tax cuts that do not expire. Geez
Thanks for watching and weighing in with your perspective. 😊
We need trump back!
With good behavior, he shouldn't have to wear that orange jumpsuit very long.
Not at all. Voting is an IQ test. Voting for trump means you failed it.
He will be!!!
He's a criminal that belongs in Jail !!!!
Yes for 1001 REASONS!!
Is Oak Harvest working for Trump
Oak Harvest is working for Oak Harvest. If you don't like their advice, don't listen to them 😀
Did you even watch the video? I'm a Biden voter, but it's simply a fact that Trump cut taxes and that is potentially ending in 2026.
If he was advising on how to reduce medical premiums under Obamacare, would you then think he was working for Obama?
@@jpg7616 check around there are many many Trumper’s on Obamacare. For a group that didn’t like Obama you sure like Obamacare
FDJT & MAGA 🤡🤡🤡
II am stopping my subscription to this pro Trump channel
If he was giving advise on how to take advantage of Obamacare and you didn’t like Obama would you feel the same? It’s just the name it’s being called because of the person in office at the time. I personally don’t care what it’s called if the advice helps then I’m listening.
excellent! Great you would rather pay more taxes under bidens tax plan.
Triggered by a name …. I feel sorry for you