SVA’s Rhett Reuter Featured in Article for In Business Magazine on Biden Tax Changes

SVA Certified Public Accountants professional Rhett Reuter, CPA, MT is featured in an In Business Magazine article titled “How Much Will You Owe? A Look at Potential Tax Changes Under the Biden Administration”.

The Biden administration is proposing an increase in the marginal income tax rate for high earners. For partnerships and S corporations where income passes through to the taxpayer, the individual rates might go up to 39.6% for those making over $400,000. The corporate tax rate could settle around 25% which would amount to an increate in the rate of at least 4% to 7%. Furthermore, the long-term capital gains rate, for gains held longer than one year, may increase for pass-through entities. In these instances, the highest rate of 20% could be raised to match the ordinary tax rate of 39.6% for those with an adjusted gross income of over $1 million.

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Rhett is a Principal with SVA Certified Public Accountants and works closely with businesses advising them on tax and accounting issues that may arise throughout the year. He provides guidance and support on a variety of issues including IRS and state audits, various tax credits, like-kind exchanges, and structuring and exiting deals. He concentrates his practice on federal and state tax compliance, tax research, proactive tax planning, and tax-saving strategies.

About SVA Certified Public Accountants

Since 1974, SVA has proudly served family-owned and closely-held companies. As we celebrate over 50 years in business, our commitment to remaining an independent CPA firm and investing in our future growth is stronger than ever. Our culture of innovation and agility drives us to fulfill our core mission: Serve People Better.

Our team brings deep expertise in business consulting, tax, accounting, and audit across a wide range of industries. We are dedicated to aligning with each business's strategic vision and supporting the personal financial goals of its owners. This commitment to excellence has earned SVA consistent recognition as one of the nation's Top 200 Accounting Firms and a place on Forbes' list of America’s Best Accounting Firms in 2021 and 2022.