biden

Saturday, 22 May 2021 07:22

Biden’s Huge Tax Hike is Imminent within a Week

(Washington)

The last couple of months has been very tense for advisors. Not only have discussions around a renewed version of the DOL rule been swirling, but highly significant tax hikes are pending. Biden is planning a huge multi-trillion Dollar increase in spending, which means tax hikes are almost a certainly. And none of them is more worrying than the hike on long-term capital gains taxes, which Biden wants to push up to 43.4% vs 23.8% now. That is scary in itself, but here is the truly worrying part: experts think it will take effect May 27th (next Thursday). This would be simultaneous to his announcement of his full budget.

FINSUM: Evidently Biden doesn’t want to give advisors and accountants time to game plan around his changes, so he wants them to go into effect immediately upon release of the budget (and they could even be retroactive).

Published in Wealth Management

Thursday, 20 May 2021 08:00

Here is When a New Fiduciary Rule Will Hit

(Washington)

A new fiduciary rule has been in the back of all advisors’ minds for several months now. In February…see the full story on our partner Magnifi’s site

Published in Wealth Management

Monday, 10 May 2021 19:48

This Asset Will Be the Big Winner from Biden’s Tax Plans

(Washington)

Jennifer Johnston, head of municipal Bond Research at Franklin Templeton, laid the details of what exactly the Biden Administration’s infrastructure plan…see the full story on our partner Magnifi’s site

Published in Wealth Management

Monday, 10 May 2021 19:47