- A minimum alternative tax on large corporations of 15%.
- Requiring S-Corporations & Partnerships to pay an additional 3.8% on pass-through income
- Increasing required minimum distributions (RMD) for individuals with high IRA balances
- Expanded tax breaks for green-energy businesses, homeowners that make energy-saving improvements, and buyers of electric vehicles. This doesn’t mean these current credits will go away
- Increasing the $10,000 cap on State and Income Tax (SALT) deduction for itemizers
- Increasing IRS funding by $80 billion over 10 years to help their call systems, computer systems, and increase audits on high-income corporations.
As always our tax plan for business owners or investors bundles this knowledge and MUCH more into account to create your individualized tax plan to be used for YEARS. Feel free to text, email, or call us to see how a tax plan could benefit you.