Taylor Tepper - Forbes Advisor
President Joe Biden campaigned on a promise not to raise taxes on middle-class Americans. But a little-known provision in his big social programs bill could do just that.
Tucked away in the American Families Plan, is a proposal to change the way capital gains taxes are paid on estates when people pass away. This seemingly small revision to a tax rule called stepped up basis could cause average Americans to pay more to Uncle Sam than they would under the current tax regime, in addition to upending estate planning for the nationâs affluent and uber-wealthy.
Stepped Up Basis Reform: Biden’s Middle-Class Tax Hike?
May 6, 2021 6:34 AM Taylor Tepper - Forbes Advisor
Posted:
Updated:
May 8, 2021 6:32 AM
President Joe Biden campaigned on a promise not to raise taxes on middle-class Americans. But a little-known provision in his big social programs bill could do just that.
Tucked away in the American Families Plan, is a proposal to change the way capital gains taxes are paid on estates when people pass away. This seemingly small revision to a tax rule called stepped up basis could cause average Americans to pay more to Uncle Sam than they would under the current tax regime, in addition to upending estate planning for the nation’s affluent and uber-wealthy.
Taylor Tepper - Forbes Advisor
A year has come and gone since the beginning of the Covid-19 pandemic in the United States in March 2020, upending all of our lives.
Hundreds of thousands of Americans have lost their lives, millions have lost their jobs and practically every kid (and parent) in America has endured school at home for months on end. Weâve changed how we work, how we shop and how we socialize.
But thereâs one thing that hasnât changed: retirement. Despite concerns that folks might raid their 401(k)s or companies would axe benefits en masse, most workers saved for retirement in 2020 much as they would any other year.
KXLY
March 15, 2021 5:00 AM Taylor Tepper - Forbes Advisor
Posted:
Updated:
March 16, 2021 9:06 AM
Trading app Robinhood is going public, and its future depends on whether it can evolve to empower fledgling investors to find their inner Warren Buffett or trap them in an unhealthy obsession with speculation and risk.
The Menlo Park, Calif.-based upstart helped transform the brokerage world by pioneering zero-commission stock trading, pushing industry stalwarts like Fidelity, Charles Schwab and E-Trade to follow suit. Its sleek, gamified user experience comes complete with bursts of confetti whenever you trade.
After years of steady growth, Robinhood’s secret sauce proved especially compelling during the Covid-19 pandemic, with Americans locked indoors and eager for any way to keep occupied.