Planning Briefs
Income, Estate And Gift Tax Hikes Ride On Election Results
Published Wednesday, Sept. 30, 2020; 9:30 PM EST
(Wednesday, Sept. 30, 2020; 9:30 PM EST) Should the Democrats win the White House and Senate on November 3, high-income individuals, along with those having estates valued at more than $1.1 million, will have to assess and implement tax reduction strategies before the end of the year. Complicating matters, the election results may be contested and delayed, making it even more important to be prepared to act swiftly. President Donald Trump has not spelled out a comprehensive plan to cut the nation's soaring deficit and long-term debt, while Vice-President Joe Biden released a plan that would double the long-term capital gains...
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