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President Joe Biden recently announced the American Families Plan. Biden proposes paying for the AFP by increasing the capital gains tax rate from 23.8 percent to 43.4 percent (including a surtax) for households earning more than $1 million per year. Many small-business owners don’t make $1 million in their best year until they sell their business (as part of this proposal, capital gains tax is considered income). Suppose you had planned on selling your company to retire. In that case, you might have to work another five to 10 years to save up for the retirement you envisioned. Under the new tax law, if you sell your business for $10 million, nearly $2 million of your after-tax proceeds is vaporized. It is imperative that you reduce your tax burden to counter this blow.

United statesJoe bidenA health savings accountPresident joe bidenAmerican familiesFederal insurance contributions actSocial securitySavings incentive match planHealth savings accountஒன்றுபட்டது மாநிலங்களில்ஓஹோ பிடென்ப்ரெஸிடெஂட் ஓஹோ பிடென்அமெரிக்கன் குடும்பங்கள்சமூக பாதுகாப்புசேமிப்பு ஊக்கத்தொகை பொருத்துக திட்டம்ஆரோக்கியம் சேமிப்பு எண்ணுதல்