What Biden’s Tax Changes Might Mean for You
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This past Wednesday, President Biden laid out the tax changes he is proposing to fund his most recent spending package, which he has named “The American Family Plan”.
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This past Wednesday, President Biden laid out the tax changes he is proposing to fund his most recent spending package, which he has named “The American Family Plan”.
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As a practicing lawyer for over 30 years, I am well aware of the many benefits associated with limited liability companies (LLCs). But the secret is out and LLCs are becoming the entity of choice for many new businesses.
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This past Monday a group of Senate Democrats proposed legislation to eliminate the so-called step-up in basis at death for capital assets such as stocks, real estate and businesses, and instead to tax unrealized capital gains at death...
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President Biden and many of his Democratic colleagues in Congress have pledged to significantly reduce the amount that can be transferred to family and friends tax free by gift or inheritance. Low interest rates create an excellent opportunity to lessen, or even eliminate the taxes imposed on...
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Yesterday Attorney Maureen O'Leary appeared on The Market Commentator podcast. Maureen joined her former law partner Andy Willms to talk about Democratic proposals to raise the estate and gift tax rate.
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Currently, Wisconsin handles the taxation of PPP loans differently than the federal rules. Unless Wisconsin changes its rules, expenses paid with PPP funds are not deductible for Wisconsin tax purposes, even though it is deductible for Federal purposes.
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