What the Biden Tax Plan May Mean for You
Wednesday, 26 May 2021
The first year of a new president’s administration usually brings quite a few changes. After first focusing on COVID-19 economic assistance, the Biden administration has begun to talk more about tax policy, introducing both the American Jobs Plan and the American Families Plan. President Biden’s tax proposals are starting points for congressional debate, and they lack details that will be required for final legislation. Still, they provide a window into the administration’s priorities and give us insight into proposed changes. Below, we will review proposals that could impact high-income earners, as well as discuss strategies that may be beneficial for high-net-worth individuals to pursue.