Given the size and number of tax changes proposed by the Biden administration, it’s no wonder advisors face challenges in helping clients prepare for the year ahead.
The outcomes of two elections in Georgia that are scheduled for Jan. 5 are expected to determine the balance of power in the Senate and may also have an impact on the kind of tax planning that accountants should be advising their clients to do.
The president-elect's pledge to repeal President Donald Trump‘s tax cuts as soon as he is inaugurated may be stymied for the foreseeable future.
This article looks at a few key components of the presidential nominees' tax positions.
Senator Kamala Harris condemned the Trump administration’s handling of the pandemic as the worst failure in U.S. government history, but evaded answers on the Democrats’ positions on the environment and the Supreme Court.
Conversations have already started about how the increased government expenditures to support citizens during the pandemic will be funded. But resisting the urge to increase taxes may be the best way to support economic growth.
President Donald Trump said he’s “very seriously” considering a capital gains tax cut, a move he decided against last September after saying it wouldn’t do enough to help the middle class.
Pandemic-induced market volatility and warnings from Wall Street that tax rates are bound to rise have more Americans preparing to move money from traditional individual retirement accounts into Roth IRAs.