Displaying items by tag: biden
Here is When a New Fiduciary Rule Will Hit
(Washington)
A new fiduciary rule has been in the back of all advisors’ minds for several months now. In February…see the full story on our partner Magnifi’s site
This Asset Will Be the Big Winner from Biden’s Tax Plans
(Washington)
Jennifer Johnston, head of municipal Bond Research at Franklin Templeton, laid the details of what exactly the Biden Administration’s infrastructure plan…see the full story on our partner Magnifi’s site
Biden Admin Coming After Gig Economy
(Washington)
Lyft, DoorDash, and Uber saw all of their stocks fall…see the full story on our partner Magnifi’s site
The Big Loophole to Biden’s Tax Plan is…
(Washington)
In its fourth-quarter earnings report…see the full story on our partner Magnifi’s site
New Tax Change Could Be a Big Win for Clients
(Washington)
Ask any high earning northerner about the worst element of Trump’s tax cuts, and you will invariably here the same answer: the introduction of the SALT cap (state and local taxes). The puny cap sent effective tax rates spiking in higher tax states and helped propel a migration southward. Well, that mostly hated legislation might be headed for extinction as calls from lawmakers are growing louder to get rid of it. Interestingly, the push to get rid of it is not coming from Republicans, but Biden’s own party, since it disproportionately affects blue states with high taxes. According to CNBC, “More than 20 Democrats and nine Republicans have joined a bipartisan caucus that has pledged not to vote for any legislation that doesn’t include a repeal of the SALT cap”.
FINSUM: This has always been a pretty rough piece of legislation (logical as it may be), and it is easy to see that Biden may have to compromise on this.