Tax planning requires the vision to spot train wrecks as well as opportunities. With the 2020 elections behind us, we expect these consequences:
- Rising Individual and Corporate Tax Rates
- Significant Capital Gains and Dividend Tax Increases
- The “Art” of Long-Term Income Deferral or Exclusion from Income taxation will rise to the forefront of tax planning
Significant changes are likely in the taxation of Estates.
Before these laws change a planning, window exists to implement actions that will reduce or eliminate future taxes.
We enjoyed significant reductions in costly regulations affecting our lives and the conduct of our businesses. With the change of administrations, we expect laws and regulations delaying the pace of business activity, increasing the costs of doing business, and intruding into personal lives.
It is essential to stay abreast of these developments to control their damage to you and your business.
Our TEAM of experts hopes we can be of assistance. Contact us to discuss.