If you’ve read FZ Daily the last two days, you’re up to speed on Biden’s tax plan and how to plan around
it…sort of.
If you didn’t read yesterday’s because it looked too long and complicated, you can hold off digesting it a
while a longer. (That’s the good news.)
Why?
Because it might be all for naught.
It looks almost inevitable that Biden’s tax plan will be RETROACTIVE. (That’s the bad news.)The president
wants it to be retroactive to April 2021 and the House proposal makes it retroactive to last Friday,
September 13, 2021.
So if you planned to realize some capital gains before the tax rates go up next year, don’t bother.
It’s unlikely it will make a difference.
Sorry, folks. At least it’s Friday!
