What are the New Proposed Tax Law Changes You Must Know About- An Insight by William D King
There is still no agreement on the sustainability of President Biden’s plan after lengthy negotiations in Washington, DC says William D King. The Build Back Better Act (BBBA) as well as the Bipartisan Infrastructure Bill (BIB), often referred to as the Infrastructure Investment & Jobs Act, both propose changes to tax law that may take effect as early as next year. We will have to wait and see how these recommendations will be implemented. But the BBBA, as well as the BIB, contain a wide variety of tax measures. That might have an impact on both corporations and individuals. Also uncertain is when assuming either one or more of the proposed tax legislation is passed. The tax adjustments would have become retroactive. Income tax depositions as explained by William D King Long-term capital gains and qualifying dividends. And capital gains levels would’ve been raised from a maximum of 20 percent to a maximum of 25 percent. 2. Compared to President Biden’s plan of a maximum rate just at the maximum regular tax rate. This idea… Read More »What are the New Proposed Tax Law Changes You Must Know About- An Insight by William D King