Author Archives: Leibowitz

Updates on Biden’s Financial and Infrastructure Proposals

With several financial proposals circulating in Washington, Schwab’s legislative and regulatory affairs representative, Mike Townsend, discusses which ideas are likely to be achieved. While Biden has proposed increasing the capital gains tax to 39.6% for those earning over $1M, it seems likely that the capital gains tax will only increase to 28% or 29%. Also, it seems […]

The Secure Act 2.0 – Changes For Retirement Planning

The Secure Act 2.0 has ushered in some welcomed changes for retirement planning, but it has also led to confusion. Yet again, the required minimum distribution (RMD) age is being increased. This time retirees must begin taking RMDs by age 73 on Jan 1. 2022; by age 74 starting on Jan 1, 2029; and by age 75 […]

Biden’s Proposed Top Combined Capital Gains Tax Rate

President Biden’s proposed top combined capital gains tax rates would average 48% under the new tax plan. This would represent a major increase from today’s lower rates for long-term capital gains and qualified dividends. In fact, thirteen states and the District of Columbia would have a top combined capital gains tax rate about 50%! Higher combined capital gains […]