Will Biden Tax Implications Affect You?
With the election shifting towards a victory for Biden, how will his presidency affect your taxes?
If you own a business and HATE paying taxes, it is perhaps the right time for you to ask the question of how much will you potentially need to pay going forward? How is “Biden Tax” going to affect your tax position, hence your cash position down the road. Do you need to consider different tax strategize to preserve CASH for your business? Biden has proposed to limit itemized deductions, increase taxes for high-income earners, raising corporate taxes from 21% to 28%, taxing capital gains at ordinary income rate, and many more… Should you be concerned as a business owner?
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