
In 2019, the Federal
Government Spent $4.448 Trillion.
The federal deficit was $984 billion.*
How will they pay for all of this?
-
Capital gains taxes as high as 43.4%*
-
Ordinary income taxes as high as 43.4%*
-
FICA payroll taxes increasing to 12.4%*
-
Corporate tax rate increases to 28%***
-
Estate taxes as high as 45%**
-
Itemized deductions limited to 28% of their value****
Source: *** https://www.jdsupra.com/legalnews/preparing-your-estate-plan-for-biden-3730671/
*Source: ** https://www.jdsupra.com/legalnews/preparing-your-estate-plan-for-biden-3730671/
*Source: https://www.cnn.com/2021/03/18/politics/biden-tax-plan-explainer/index.html
*Source: * https://www.jdsupra.com/legalnews/preparing-your-estate-plan-for-biden-3730671/

You don’t need to go it alone when
talking taxation with your clients.