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Investments At Risk If The Tax Exemption Is Reduced

by Policy and Taxation Group Admin | Sep 12, 2017 | Blog, Estate Tax, Family Businesses, Wisconsin

When Tom and Leslyn Jacobs first got married, buying land was simply a dream. Indeed, they were both young foresters saddled with college loans and old vehicles. However, in 1984, their dream became a reality when they received a $40,000 loan to buy 80 acres of land....

Investments At Risk If The Tax Exemption Is Reduced

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Death Tax & Estate Tax News

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%.

Pay close attention to what is being discussed and let your members of Congress know you do not support elimination of step up in basis.

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 and in the Senate S1627.

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