Category Archives: Uncategorized

Bidne’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 […]

Tax Deductions – When Should I Take Them?

Tax deductions are a useful way to create hard dollar savings, but some tax deductions may cost you more money than they save. For instance, contributing funds to a traditional IRA provides an immediate deduction, but choosing a non-deductible Roth IRA can be exponentially more beneficial when you reach retirement. Other items to consider are the costs […]

Avoiding An Inherited IRA Tax Time Bomb

We believe at Brandywine Oak Private Wealth the more a family plans… the more the family will keep after taxes. Due to the changes under the Secure Act, inherited IRA distributions can become a tax time bomb for beneficiaries! For clients who pass away after Dec. 31st, 2019, their non-spouse beneficiaries must fully distribute their […]