June 30, 2021 FEI Twin Cities FREE Webinar: Estate Planning in the Biden Tax Era

Register Online Here! This virtual event is open to FEI Members, strategic partners, and invited guests. The fee to attend is $0. Register online via Constant Contact using the above link. REGIST

They say that the only thing you can count on is death and taxes. In the world of taxes in the United States, you can count on tax law changing. With a new administration in the White House, the president has proposed...

• American Families Plan, funded primarily through the increase of the top individual tax rates; and, 
• The American Jobs Plan, funded mainly through business taxes increases.

This combination impacts individual, and business owners on both their business and personal balance sheets. Successful business owners, who are also individual taxpayers, may see a rise in business taxes by 7% and top individual taxes by 2.6%.  

Underlying those increases are government "takeaways" that hit Mom & Pop enterprises hard. They include the repeal of the real estate §1031 exchange for gains in excess of $500,000, Medicare surtax on ACTIVE trade or business income in excess of $400,000, capital gains (qualified dividends) rates nearly doubling for individuals making more than $1 million, and the potential loss of the step-up in adjusted basis at death on appreciated assets. This last one impacts estate planning as well as income tax planning.

Join us for a discussion on the many changes happening and how to best prepare with your CPA, estate attorney or wealth manager for this new era!

Speakers:  

Bree Williamson, CPWA®, BMO Wealth Management, Planning Section, Partner
David Joyslin, Best & Flanagan LLP Private Wealth, Planning Section
Jon Fortin, Redpath and Company, Tax Director, Estate, Gift, & Trust
Mike Barry, Twin City Fan, President/CEO

Please use THIS LINK to register for this virtual session via Constant Contact.