Call Us Now To Schedule An Appointment!
secure plus financial
Questions to Ask About Biden Tax Policy
- Should I plan for Biden Tax Policy changes?
- When will it come? 2021 or 2022?
- Should I speed up capital gains to current year?
- Should I change my legal entity structure now, next year?
- What additional planning strategies should I implement?
- If I do the same income next year as this year, how much more tax would I pay under Biden’s tax changes?
- What things should I do regardless?
- What things should I do only if they pass this law?
Those are just a few of the many questions you should ask yourself now that Biden is President.
Many people think these changes can’t come until 2022, but that’s simply not true.
With COVID-19, we witnessed a rush order process on enacting the CARES Act & FFCRA. Normally, tax legislative changes take a longer period to narrow down details before enacting.
In addition, it is also rare to see retroactive changes, however not impossible. Bill Clinton retroactively increased taxes in the 90s. Therefore, consider being prepared if there are retroactive tax law legislative changes for 2021.
Ready to see if we need to perform planning for the blue wave?
Do you have what it takes to reduce your Tax Overpayment like a True Expert?
Many elements of tax planning are quite simple, but it’s always worth speaking with a tax professional who can offer you additional guidance on how to work within the tax system successfully.
secure plus financial
End of Year Small Business Checklist
The end of the year is a great time to review your small business financial checklist and make sure that you are ready for the upcoming year.
Santa’s Tax Savings Success Business Model
Today’s business owners are facing serious challenges that allow their business to grow. Learn from Santa’s Tax Savings Success Business.
High Interest Rate on Commercial Loans
Commercial loans are great because you can fund your business; be on the lookout for high interest rates when you apply for a commercial loan.
How Rising Inflation May Lead to Higher Tax Bills
Inflation has been rising over the past year. Taxes haven’t increased as quickly as inflation, but now it’s possible to pay more in taxes than you used to; this is because the IRS calculates taxes based on income and inflation.
2021 Tax Law Proposals Timeline
The Biden administration has introduced a series of tax proposals as part of the Build Back Better initiative to pay for new government programs such as education and infrastructure.
Bipartisan Infrastructure Bill
House has agreed to a motion to concur in the amendments made by the Senate to the Bipartisan Infrastructure Bill.