With the current environment in Washington, clients are nervous and seeking our advice and guidance more than ever on what they can do to plan for the uncertain looming changes to the Tax Code. Whether under President Biden’s American Families Plan, the “99.5% Act,” the Sensible Taxation and Equity Promotion (STEP) Act or the sunset of the tax cuts under the Tax Cuts and Jobs Act, changes to the Tax Code are almost certain. However, what those changes will ultimately be is anyone’s guess.
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