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Trump’s Plan To Abolish the IRS Has Just Begun

2025-10-24 Education
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Minority Mindset
Minority Mindset
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Trump's Tax Reform Plan: Decoding 2025/2026 Changes for Individuals and Businesses

Understand the major tax law extensions and new deductions resulting from the 2025 tax reforms. Discover how these administrative shifts may lower your personal and business tax liabilities this year.

Short Summary

  • The plan to replace the IRS with the ERS via tariff funding fell short, as tariff revenue ($300B) does not cover the $7T government budget.
  • The extension of the Tax Cuts and Jobs Act ensures lower income tax rates for most individuals filing next year (2026).
  • Businesses gain significant benefits from a permanent 100% Section 179 deduction and a permanent 20% QBI deduction.
  • New temporary deductions for individuals include car interest, tips (under limits), and overtime income (under limits).
  • The government manages a $2T annual deficit by cutting some spending (like IRS layoffs) while simultaneously enacting expansive tax cuts.

This video analyzes the components of the recent tax reform legislation, highlighting practical deductions available to individuals and structural changes benefiting business owners. Pay attention to expiring deductions and permanent extensions to optimize your filings immediately.

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Description

Watch my free masterclass & get Market Briefs as a bonus: https://link.briefs.co/4oipbfJ My recommended tools*! *Please note: Yes, these are our sponsors & advertisers. However, these are companies that I trust and use (or have used). The compensation doesn't affect my recommendations or advice. That being said, you should always do your own research & never blindly listen to a random guy on YouTube. ---------- ➤ Get a complimentary advisor session 1) 💰 Money Pickle - Best for retirement, investing & tax strategy: https://theminoritymindset.com/advisor ---------- ➤ Life Insurance 2) 🛡 Policygenius - Get a free life insurance quote: https://theminoritymindset.com/policygenius ---------- ➤ Real Estate Investing Online 3) 🏠 Fundrise* - Invest in real estate passively! https://www.theminoritymindset.com/fundrise *Jaspreet Singh is an equity owner in Fundrise and has invested in Fundrise. He receives a commission if you use his affiliate link. ---------- ➤ My Favorite Credit Cards 4) 🪪: See my top credit card picks for this month: https://www.theminoritymindset.com/creditcards ---------- ➤ Invest In Stocks Passively 5) 📈 M1 Finance - Buy stocks & ETFs on autopilot: https://theminoritymindset.com/m1 ---------- ➤ Business Accounting 6) 💸 CommonWealth - Does your business do over $250k/year? If yes, get a free consultation from my partner accounting firm: https://theminoritymindset.com/tax ---------- Buy Gold Passively 7) 👑 Vaulted - Buy physical gold on autopilot: https://theminoritymindset.com/yt/vaulted ---------- Recommended: Trump’s Secret Crypto & Gold Plan to Survive the US Debt Collapse https://youtu.be/RhtC4BZqjr8 What Is The Minority Mindset? "The Minority Mindset has nothing to do with the way you look. It's the mindset of thinking differently than the majority of people" ~Jaspreet Singh Follow me: Instagram: https://www.Instagram.com/MinorityMindset Website: https://www.TheMinorityMindset.com Want More 🥑🥑? Minority Mindset Clips: https://www.youtube.com/minoritymindsetclips Minority Mindset En Español: https://www.youtube.com/minoritymindsetenespanol Video host: Jaspreet Singh DISCLAIMER: This description may contain links from our affiliates, sponsors, and partners. If you use these products, we will get compensated - but there's no additional cost to you. DISCLAIMER CONT'D: I'm just a random guy on YouTube so do your own research! Jaspreet Singh is not a licensed financial advisor. He is a licensed attorney, but is he is not providing you with legal advice in these videos. This video, the topics discussed, and ideas presented are Jaspreet's opinions and presented for entertainment purposes only. The information presented should not be construed as financial or legal advice. Always do your own due diligence.

Top Comments (10)

@sdlausen1 2025-10-24

Get RID of property taxes on your primary residence! Get rid of taxes on SS!

2.1k 187 replies
@ilocanodetoy2225 2025-10-24

They need to make a law that when the government is shutdown no federal tax will be collected and all senators will not get paid and no back pay for politicians.

1.3k 64 replies
@aukaisewell2788 2025-10-24

Get rid of the property tax scam

1.1k 78 replies
@ravenwind75 2025-10-26

Sounds like if you own a small business, you have zero gains and several losses. You lose out on the meal write off, you lose out on the tariff benefit (because you get to pay it) and what do you gain? This video is jam packed with info, thanks for sharing your knowledge with us!

1.1k 4 replies
@notmeee7302 2025-10-24

ALL Social Security should not be taxed!

1.0k 45 replies
@Franks_SportsCards 2025-10-24

NO MORE PROPERTY TAX ON PRIMARY RESIDENCE!!!!!!!!!!!!!!!!!!!!!!!!!!!!

888 31 replies
@-Pyewacket 2025-10-25

Work for a dollar, its taxed Earn that dollar, its taxed Spend that dollar, its taxed Save that dollar, its taxed Give away that dollar, its taxed Invest that dollar, its taxed Pay tax with that dollar, its taxed

741 54 replies
@Neonfluxvid 2025-10-26

Get rid of property taxes because house is paid off. Retired people barely paid for food, medicine and utilities and its not fair that retired keep getting charged for it.

571 49 replies
@rizzo919 2025-10-27

We have a government spending problem, a corrupt Senate problem, and an over taxation problem.

97 3 replies
@MinorityMindset 2025-10-23

Register for my free masterclass & get Market Briefs as a bonus: https://briefs.finance/f42414 WARNING: LOOKOUT FOR SCAMS IN THE COMMENTS! There are many fake accounts impersonating me, and there are many bots promoting fake/scam investments. I will NEVER ask you to contact me through YouTube comments, telegram, or WhatsApp. I have a checkmark next to my name and my comment will be highlighted. Fake accounts do not have that. Please be aware of fake accounts trying to scam you using my name and picture!

95 9 replies

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