Displaying items by tag: taxes

(Washington)

Any advisor paying attention to President Biden’s new proposals has surely been aware…see the full story on our partner Magnifi’s site

(Washington)

A lot of attention in the wealth management industry has been paid to President Biden’s efforts to raise taxes…see the full story on our partner Magnifi’s site

(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).

(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

(Washington)

In its fourth-quarter earnings report…see the full story on our partner Magnifi’s site