There are two major items on the legislative agenda before year-end: approval of the Federal budget for the remainder of the 2021 fiscal year and an extension of the CARES Act. Tucked into these proposals is an emergency 3% COLA increase for Social Security benefits. While additional Social Security benefits is a good thing, it may mean that more taxes are owed. At Brandywine Oak, we help our clients navigate the intricacies of these proposals to ensure they plan properly for their taxes.
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