TheVicPorcelliShow-HOUR02-10-26-26

 

10:00AM
10:05 – 10:22 (17mins) Chris Cooper / Serenity Wealth Management  In-Studio
I do a lot of tax analysis for clients, explaining the reasoning behind their returns. How it impacts their future and what it means in the long run.
Most people are shocked when they see the impacts, as their tax preparation folks (or their software) just don't lay it out clearly.

Here are a few key things:

  • Enhanced Senior Deduction: Anyone over the age of 65 can see an additional $6,000 of tax-free money due to an increase in the senior tax deduction.
    • Married couples can double this if both spouses are over 65 and qualify. That's up to $12,000 per household.
    • There are income thresholds so contrary to the talking points this is NOT a tax cut for the wealthy
    • It is in place for 2025–2028, so it is temporary
  • No Tax on Tips and No Tax on Social Security
    • This is a real benefit for those receiving OT or earning their living with tip income
    • There are income thresholds here as well so again, this is NOT a tax cut for the wealthy

With all the noise out there I thought a few solid examples would be good as we get into the mid-term election. These are the kinds of things we don't hear about or never realize, but they offer a clear example of how administration policies benefit everyday Americans.

  

10:25 – 10:37 (17mins)
DAILY FEATURE: “THE SPEAKER'S STUMP SPEECH”