As we wrote last week, Democrats in the House of Representatives released a new $3.5 trillion proposed spending plan that includes a wide array of changes to federal tax laws that may affect your business and estate plan. While the proposed legislation is still under consideration and far from being finalized, and with the time it takes to plan and execute some of the financial and estate planning actions, we suggest you start strategizing now with your Family Business Lawyer.
Democrats in the House of Representatives released a new $3.5 trillion proposed spending plan that includes a wide array of changes to federal tax law (increase in personal and capital gains tax rates, etc.). Yet, the proposed law is still under consideration and far from being finalized. If your business or personal finances stand to be impacted by any of these changes, you must act quickly to ensure that whatever actions need to be taken can be planned and executed before the end of the year.