Planning For The Unknown: Preparing For Potential Tax Increases Under The Biden Administration
The Biden Administration’s American Families Plan and other tax proposals may complicate the tax landscape for high-income earners. Many of the proposals target taxpayers earning more than $400,000 per year. The American Families Plan proposals include: Increasing the top marginal income tax rate to 39.6% for households making over $400,000; Taxing long-term capital gains at…