A Comparison of Proposed Tax Policies from Trump and Biden

2020 Election: A Comparison of Proposed Tax Policies from Trump and Biden

By Jennifer Schmidt, Partner, and Lindsay Ferreira, Manager, National Tax Services

October 21, 2020

This article was updated October 22, 2020.

Taxes often take center stage during an election year, and the coming presidential election is no different.

Following is a side-by-side comparison that shows you current tax law as well as proposed changes from President Donald Trump and Democratic nominee Joe Biden. We cover proposals for businesses, including those that operate internationally, individuals, and other tax provisions.

Businesses

International

Individuals

Other Tax Provisions

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For questions or insight on how some of these proposals might affect your business or individual finances, contact your Moss Adams professional.

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Jennifer Schmidt has practiced public accounting since 1996 and leads the firm’s tax accounting methods practice. She advises on tax accounting methods issues, including the timing of income and expense recognition, cost recovery, capitalization, and accounting method change procedures. She can be reached at (206) 302-6867 or jennifer.schmidt@mossadams.com.

Lindsay Ferreira has worked in public accounting since 2014. She specializes in federal and state tax matters for partnerships and S corporations in a variety of industries, including manufacturing and technology, and helps monitor tax law changes. She can be reached at (503) 478-2178 or lindsay.ferreira@mossadams.com.

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