Under the Biden administration, there could be significant estate tax changes for affluent and wealthy families. Four areas of emphasis include Federal income tax increases for affluent Americans, Congress’ addition of Social Security tax on earnings exceeding $400k, lowering of the estate and gift tax exemption, and increases to state and local taxes.
At Brandywine Oak, we stay on top of potential tax law changes to help clients take proactive steps to minimize the impact of tax and legislative risk during their lifetimes. To learn more about these potential changes, please read ThinkAdvisor’s https://lnkd.in/eE8PsUh.