Taxes. Taxes. Taxes.
This is the narrative and the threat out of Washington.
For good reason, too.
The proposals by the Biden administration are to raise the tax rates. With the current proposals, single payers earning $400,000 or more, and joint filers earning $450,000 or more would be impacted the most.
The top tax rate would go up to 39.6% on ordinary income, and the 32% and 35% brackets would be compressed. (It is still not clear what this compression will look like, and at what income amounts.)
This higher income group would also see an increase on capital gain taxes from 20% to 25%.
That may not seem all that bad to you, but consider the fact that this is a tax on money that has already had a gain on it (or income taxed), and that gain is being taxed again.
When is enough enough in Washington!?!?
They (Republican & Democrat alike) are coming after your money!
Remember when candidate George Bush said, “Read my lips, no new taxes!” And what did he do as soon as he was elected… approved tax increases!
TODAY, you have a more favorable tax code than what is being proposed and would start next year. But you are running out of time to access the benefits!
In order to analyze your tax liabilities, tax opportunities, and implement tax minimization strategies, you need to act now.
This is your moment, and your time to take advantage of potential savings before they are gone.
Call or email now to request a personalized tax analysis!
Do you want to know for sure?
Click Here to schedule a complimentary 22-Minute phone conversation.
Quote:
“The only difference between death and taxes is that death doesn’t get worse every time Congress meets.”
– Will Rogers