Biden’s Individual Tax Plan: 3 Boons and 6 Drawbacks
May 12, 2021
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By Debra Taylor, CPA/PFS, JD, CDFA
To pay for the American Families Plan, President Biden proposes a combination of tax credits and deductions for lower-earning Americans along with tax increases for high earners and high-net-worth people. Here we review the impacts so you can get out ahead of the news and sit down with clients who may be negatively impacted.