One thing expiring for the middle class is the home office deduction. Up until Trump’s 2018 tax changes, W-2 employees could take the deduction, but that changed to contractors only until 2025. Who would have thought that in between those two years, we’d have a pandemic that moved a lot of people into work from home?
You’re right in this case. He has to wait for Trump’s tax plan to end before his can go into effect. Trump’s tax breaks for the working class ended in 2022, but the breaks for the wealthy don’t expire until 2025. Tax proposals have to meet budget requirements, and someone had to pay for those breaks for the wealthy and corporations.
frezik@midwest.social 5 months ago
taiyang@lemmy.world 5 months ago
Funny how those dates timed out, almost like they wanted taxes in the working class to go up during a potential democrat presidency. Hmm.