Are your taxes going up if Biden gets elected? David talks through some of the numbers and examples of how his tax plan could impact you.
As we get closer and closer to the election, clients continue to ask David what they need to know about the possible tax plan if Biden were to get elected. Most likely, your taxes would change under Biden if he becomes president. But how?
What has Biden said about taxes? How are taxes currently set up, particularly for the extremely wealthy? What kind of tax advantages might be eliminated by Biden if elected?
Is it possible that the tax brackets will change for people who don’t make over $400,000 per year? David breaks down the numbers of where and how people may be moved into a higher tax bracket. What does that look like?
What about the kind of impact his plan could have on inherited money? David explains the stepped up cost basis and gives an example of the difference one tax plan could make over another.
What things can you do to lessen the effect on your heirs and yourself when it comes to your assets and income? Be sure to speak with a financial advisor to make sure you have a plan for your money. Instead of waiting until the end of the year, start considering now what that might mean for you.
“We’ll have about a month where we’ll know if the White House is changed over, so there will be a little bit of a window to make a lot of changes in December.”
– David Dickens
CONTACT US
OUR LOCATION
10975 Grandview Drive
Building 27, Suite 190
Overland Park, KS 66210
Get Directions
CONTACT US
OUR LOCATION
10975 Grandview Drive
Building 27, Suite 190
Overland Park, KS 66210
Get Directions
We are an independent financial services firm helping individuals create retirement strategies using a variety of investment and insurance products to custom suit their needs and objectives.
Advisory Services offered through CreativeOne Wealth, LLC an Investment Advisor.
Investing involves risk, including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values. None of the information contained on this website shall constitute an offer to sell or solicit any offer to buy a security or any insurance product.
Any references to protection benefits or steady and reliable income streams on this website refer only to fixed insurance products. They do not refer, in any way, to securities or investment advisory products. Annuity guarantees are backed by the financial strength and claims-paying ability of the issuing insurance company. Annuities are insurance products that may be subject to fees, surrender charges and holding periods which vary by insurance company. Annuities are not FDIC insured. Provided content is for overview and informational purposes only and is not intended and should not be relied upon as individualized tax, legal, fiduciary, or investment advice.
The information and opinions contained in any of the material requested from this website are provided by third parties and have been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed. They are given for informational purposes only and are not a solicitation to buy or sell any of the products mentioned. The information is not intended to be used as the sole basis for financial decisions, nor should it be construed as advice designed to meet the particular needs of an individual’s situation.