Yesterday we posted about the comprehensive summary Bloomberg had created regarding the tax proposals put forth by President Trump and candidate Joe Biden. Check out this article for a higher-level summary of the proposals with a great infographic for quick reference.
Head over to our LinkedIn page and check out the comprehensive summary we posted on President Trump and candidate Joe Biden's tax proposals. It covers the entire range of potential provisions, so it's a great resource for getting ahead of your annual tax planning.
The other day we posted about candidate Joe Biden's tax proposals, and the fact that it includes ending the provision in the tax code for 1031 Exchanges, or the "like-kind" swapping of one property for another.
Check out this overview from Investopedia on how 1031 Exchanges can be favorable for tax planning, among other things, and pay particular attention to the sensitive timelines involved to which investors must adhere.
Recently, candidate Joe Biden floated potential tax proposals were he to be elected that would revisit various tax provisions impacting estate transfers, in particular, the stepped-up basis provision. It's never too early to begin working on your estate plan, and in light of this news, it's definitely something you don't want to put off until it's too late.
Head over to our LinkedIn page to check out the attached estate planning introduction to get started today: