November 24, 2020

Biden Presidency May See Higher Individual Tax Rates, 1031 Repeal

Maybe not quite where he wants to get at 39 percent (top rate). But I do think you’re going to see a tax plan move in the first year.”

The thought process is, if you’ve got large capital gains, do you consider your options and recognize capital gains now, given a potential increase in tax rates to an ordinary income tax rate of 39.6 percent on capital gains if your income is over a million.

Email Call Map Subscribe