John Reacts to Biden’s Tax Plan (and How to Protect Your Estate)
Initial Reactions to Proposed Biden Tax Legislation
Here’s my early take on President Biden’s proposed tax legislation. This is free-flowing as I go through all of the proposals and potential consequences.
I’ve been getting tons of questions and (sometimes panicked concerns) about potential new taxes being proposed by the federal government, so I here’s some guidance and clarity on what President Biden has proposed tax-wise in the American Families Plan.
I’ll cover:
- Where we are right now
- Potential new Estate Tax and Gift Tax changes
- Sanders’ vs. Warren’s vs. Biden’s proposals
- Retroactive taxes?
- New “Capital Gains at Death” tax and offsets/exemptions
I’ll explain these possible new changes and how you can plan to protect more of your estate if the changes are put in place. There’s no need to panic just yet, but you should always be informed and prepared for possible tax implications.
End-of-Year Strategies for Irrevocable Gifting Trusts
As the year draws to a close, there are some crucial actions to take with an irrevocable gifting trust.
What to Do If You Receive an IRS Letter
Receiving a letter from the IRS might send shivers down your spine. So what's your first step? Is it always a cause for alarm? Let's walk through what you should do.
Why You Need a Trademark
We'll explain the the four main areas of intellectual property for business owners, why trademarks are crucial, and how to get your marks registered.
