Ask The Compound
How Will the Election Impact Your Taxes?
Nov 6, 2024
Bill Artzerounian, CFP, CPA, and Director of Tax Services at Ritholtz Wealth Management, shares his insights on how elections can shape tax policy and economic outlooks. He discusses the potential tax implications of different candidates and the importance of adapting strategies for changing environments. The conversation dives into optimizing Roth contributions as retirement approaches and the broader economic impacts of presidential elections, including market reactions and the significance of strategic financial planning during uncertain times.
29:14
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Quick takeaways
- The podcast emphasizes that economic downturns are influenced by broader cycles rather than solely the presidential candidate in office.
- Listeners are advised to consult tax professionals for navigating potential tax law changes post-2025, focusing on forward-looking financial strategies.
Deep dives
Potential Economic Impact of Election Outcomes
Predictions regarding economic downturns and recessions are often tied to presidential candidates, but historical data suggests that market corrections occur regardless of who is in office. Analysis shows that while Republicans have presided over more recessions since 1900, causal relationships between presidencies and economic performance are complex and often coincidental. For instance, the timing of a president's election relative to broader economic cycles influences their perceived effectiveness without definitive proof of direct impact. Ultimately, economic cycles are inherent to the financial system and will occur regardless of the occupant of the White House.
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