Trump tax law changes for businesses are one of the most important financial issues entrepreneurs face because tax rules determine how much of your profit you actually keep.
In this episode, Tom Wheelwright—Robert Kiyosaki’s CPA, CEO of WealthAbility, and author of Tax-Free Wealth—explains what business owners should expect if major tax policy shifts occur during a second Trump administration. He outlines the planning steps entrepreneurs must take with their tax advisor before April and why waiting until tax season is a costly mistake.
Tom breaks down how proposed changes could impact deductions, credits, and business structures. He explains which benefits may continue, which could disappear, and how investors and entrepreneurs can position themselves ahead of policy changes instead of reacting afterward.
You will learn:
- How tax policy changes affect business cash flow
- What to review with your CPA before filing taxes
- Why proactive tax planning builds long-term wealth
- How entity structure influences your tax burden
- What opportunities entrepreneurs should prepare for now
This episode matters now because tax laws reward preparation. Entrepreneurs who understand the rules early can legally reduce taxes, improve cash flow, and reinvest capital into assets and business growth.
Order Tom’s book, “The Win-Win Wealth Strategy: 7 Investments the Government Will Pay You to Make” at: https://winwinwealthstrategy.com/
00:00 – Intro.
02:29 – Inflation: Massive Increases to Deficit or Pay for What We Get
03:23 – Corporate Taxes
07:23 – State Local Tax Deduction Increase
08:34 – Taxing Tips, Social Security, Overtime, etc.
10:15 – Will we continue to get Bonus Depreciation?
13:33 – Research and Development Deduction
14:56 – Clean Energy Incentives
15:44 – Step 1: Write to your member of Congress.
17:54 – Step 2: Set up your business correctly.
18:49 – Step 3: Plan of action.
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DISCLAIMER: WealthAbility® does not provide tax, legal or accounting advice. The materials provided have been prepared for informational purposes only, and are not intended to provide tax, legal or accounting advice. The materials may or may not reflect the most current legislative or regulatory requirements or the requirements of specific industries or of states. These materials are not tax advice and are not intended or written to be used, and cannot be used, for purposes of avoiding tax penalties that may be imposed on any taxpayer. Readers should consult their own tax, legal and accounting advisors before applying the laws to their particular situations or engaging in any transaction.