SVA Certified Public Accountants professional Richard Kollauf, JD, CPA, CFP®, AEP® has authored an article featured in a blog for In Business Magazine titled “Trust and Estate Planning 2021 With an Eye to Biden’s Administration”.
Under the current administration, tax laws will change. It’s just a matter of when and what the effective dates will be. Any legislation could provide a very narrow window to implement planning. The top three income tax reasons to rethink estate planning in 2021 are possible elimination of the step-up in basis to fair market value rule impacting capital gain taxation, possible increase in the top income and capital gain (and qualified dividend) rate to 39.6%, and possible decrease in the itemized deduction benefit to a maximum of 28%.
Richard is a Principal for SVA Certified Public Accountants, S.C., and has more than 35 years of experience working in financial, accounting, and legal operations. His expertise in the multi-faceted financial environment includes business succession planning, tax, investments, finance, mergers and acquisitions, estate planning, and trust administration. He also has experience in estate planning and distribution for complex operational and investment multi-state businesses.
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