Will your taxes go up in a Biden presidency? According to Tony Nitti of Forbes, it depends. He explains in detail what to expect in the Biden administration. A change in presidents isn’t the only challenge for the markets right now. Jeffrey Kleintop of Schwab offers analysis on the situation. A trust may not be the best way to pass on wealth, as Joshua Kennon describes writes for The Balance.
What Does A Biden Presidency Mean For Your Tax Bill? — The Biden plan proposes raising one of seven tax rates, which will affect primarily taxpayers earning over $400,000 per year. It also includes a number of tax credits for those earning less than that. But whether any of this comes to pass depends on more than the two remaining senate races. Read more…
Election Day To Inauguration Day: A Test For Global Stock Markets: Drawing conclusions for the remainder of 2020 is challenging, but not because of the U.S. presidential election. Market performance during periods of transition to a new administration is more likely to be influenced by the overall economic environment. Read more…
Disadvantages Of Using A Trust Fund To Pass On Wealth — Despite all the advantages of using trust funds to pass on wealth, there are three specific disadvantages. Joshua Kennon offers an overview of their affect on taxes, the beneficiary and your control. Read more…
John R. Day, Bill Ennis, Stephanie Hall, and Matt Heller