Jun 8, 2021 | Blog, Family Businesses, Family Enterprise USA Action, In The News
Contact Your Member of Congress - It Only Takes A Minute A significant portion of the burden of repeal of step-up of basis would fall on workers through reduced labor productivity, wages, and employment. Please Take Action Today Policy and Taxation Group is your voice...
Jun 5, 2021 | Blog, Family Businesses, Family Enterprise USA Action, In The News
Contact Your Member of Congress - It Only Takes A Minute President Biden has proposed the elimination of the “step up in basis,” while keeping the 40% (or higher) estate tax on the full value of a family business owner’s assets. That means that each person who...
Jun 2, 2021 | Blog, Death Tax, Estate Tax, Family Enterprise USA Action, In The News
Contact Your Member Of Congress There are efforts in DC to make the estate tax (death tax) worse; higher than a 40% tax on your business and all your assets! But there is hope; a bill to reduce the rate of tax from 40% to 20% has been introduced in the House HR 3178...
May 28, 2021 | Blog, Death Tax, Estate Tax, Family Enterprise USA Action, In The News
Thank you to Brandon Roman and the team at Squire Patton Boggs (US) LLP for this report. The Biden Administration this afternoon released its FY22 Budget Request. The proposal, which is estimated to cost more than $6 trillion, would dramatically expand the size and...
May 27, 2021 | Blog, Family Businesses, Family Enterprise USA Action, In The News, Tax Cuts
While the devil is in the details, it is possible that if President Biden’s elimination of step-up in basis proposal is passed by Congress you could be paying an estate tax at 40%, and a capital gains tax at 43.4%. The graphic below shows an example of a...
May 26, 2021 | Blog, Death Tax, Estate Tax, Family Enterprise USA Action, In The News
The estate tax (also known as the death tax) is one of three taxes on assets and businesses passed from one person to another, whether through wills, trusts, or gifts. The other two are the gift tax and the generation-skipping transfer tax. They all have similar rules...
