Potential tax changes under Biden

[joshuanip]

It’s a good summary of what may be proposed. Still early innings, but just an FYI so you’re not blindsided.

Also heard much of it will be back of the year (as he’s tying it to infrastructure spending), meaning it won’t be in effect for 2021 but 2022.

https://www.jdsupra.com/legalnews/ta...biden-3358427/

[edjs]

Thanks, Josh. It’s crazy we are still paying tax on 100 year old items. How many times have taxes been paid on these little cards over the last 100 years.

[todeen]

My dad, an 70s-90s Republican, said the two taxes that shouldn't have been manipulated were the capital gains tax, and the estate tax (death tax). The threshold to pay these taxes were so high that only the truly wealthy had to pay them. My dad was a very successful individual, retired at 55 and has never had to return to work. My mother was stay at home. Even he would not have qualified to pay these taxes.

Our household is of the religious mindset (or Bill Gates / Warren Buffett), that to whom much is given, much is required.

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[joshuanip]

Originally Posted by edjs

Thanks, Josh. It’s crazy we are still paying tax on 100 year old items. How many times have taxes been paid on these little cards over the last 100 years.

Hi Ed! Good to hear from ya! How you are well.