The discussions of the 2021/2022 tax hikes legislation are top of mind, and everyone is wondering when the tax hikes are coming and how much they will have to pay?
Significant changes to the new infrastructure and reconciliation bills have pivoted somewhat away from the American Families and America Jobs plan announced in Q2 of this year.
Don’t worry. We got your back!
We are helping our clients cut their taxes every day and prepare for these changes:
Tax Planning for a potential TAX HIKE:
- Top individual tax bracket of 39.6%
- Top Capital Gains rate of 25%
- Additional 3.8% NIIT to apply to all ordinary trade or business income
- A wealth tax of 3% on those making more than $5 million
- Limitations on retirement accounts for individuals
- The end of the doubled estate tax exemption in 2022
- Limitations on the amounts of QBID allowed
If you would like insight on how these changes may affect you, AND what steps to take before these changes become law….