A Window Of Opportunity Is About To Close

Published Friday, April 23, 2021 at: 8:24 PM EDT

The window of opportunity to act before taxes are hiked is about to close.  At Tuesday’s State of the Union message, President Biden will likely talk about his plan for higher taxes, which he campaigned on. The details of the President’s plan to end the step-up basis on inheritances is perhaps the most significant change.  Other tax proposals Mr. Biden campaigned on include a sharp reduction in the favorable treatment on profits from investments, a new top tax rate of 39.6%, and expansion of the 12.4% Social Security tax if you earn more than $400,000 in adjusted gross income annually..   It’s possible the...

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This article was written by a veteran financial journalist based on data compiled and analyzed by independent economist, Fritz Meyer. While these are sources we believe to be reliable, the information is not intended to be used as financial advice without consulting a professional about your personal situation.

Indices are unmanaged and not available for direct investment. Investments with higher return potential carry greater risk for loss. Past performance is not an indicator of your future results.

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