Trump’s Plan To Abolish the IRS Has Just Begun
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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Top Comments (10)
Get RID of property taxes on your primary residence! Get rid of taxes on SS!
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.
Get rid of the property tax scam
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!
ALL Social Security should not be taxed!
NO MORE PROPERTY TAX ON PRIMARY RESIDENCE!!!!!!!!!!!!!!!!!!!!!!!!!!!!
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
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.
We have a government spending problem, a corrupt Senate problem, and an over taxation problem.
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!
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Top Comments (10)
Get RID of property taxes on your primary residence! Get rid of taxes on SS!
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.
Get rid of the property tax scam
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!
ALL Social Security should not be taxed!
NO MORE PROPERTY TAX ON PRIMARY RESIDENCE!!!!!!!!!!!!!!!!!!!!!!!!!!!!
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
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.
We have a government spending problem, a corrupt Senate problem, and an over taxation problem.
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!