Biden's Capital Gains Tax Plan Could Mean Big Changes for Wealthy Investors
Most people don't need to worry, but pay attention if you think your income could ever top $1 million.
It's not law yet and it might not ever be, but there could be some big changes for capital gains taxes as early as 2022. If you think your income could ever top $1 million, you might want to pay attention. Even having a one-time large transaction--such as selling a business--could put you over the edge.
And if you are lucky enough to be making in the high six figures or above on a consistent basis, there could be big changes in store for tax planning around your investments.