An increase in income tax rate means you'll pay a higher percentage of your income to the government. This directly reduces your disposable income, the money you have left after taxes for spending or saving. This can make it harder to afford basic necessities, save for retirement, or invest in your future.
The insightful article titled “Wealth Tax Proposals Proliferate” was recently published in Family Business Magazine.
In the article, Pat discusses the rising concerns surrounding wealth tax proposals and the upcoming expiration of the 2017 Trump-era tax cuts.
These developments, set to impact family-owned businesses, are likely to increase anxiety in the legislative landscape through 2025. As tax policies targeting the wealthy continue to be debated in Congress, it’s essential for family businesses to stay informed and engaged.
Read the full article here to learn more about the implications of these changes and what’s at stake for family businesses.
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The need for fact-based reporting of issues important to family offices and successful individuals and protecting a lifetime of savings has never been greater. Now more than ever, family offices and successful individuals are under fire. That’s why Policy and Taxation Group is passionately working to increase the awareness of issues important to family offices and successful individuals, while continuing to strengthen our presence on Capitol Hill.
Policy and Taxation Group is the Voice for Family Offices and Successful Individuals in Washington, DC focused exclusively on the critical tax and economic policies that impact them.
Since 1995, Policy and Taxation Group has been the leading advocacy group working to reduce and eliminate estate tax, gift tax, and generation skipping transfer tax while blocking increased income tax and capital gains taxes, the creation of a wealth tax, and other hostile tax policies that punish hardworking taxpayers and success.
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