Income Taxes Articles

How Much Tax Will You Pay With Biden’s Tax Plan?

President Biden has proposed an elimination of step up in basis and an increase in the capital gains tax; how much will this impact family businesses? See the example below. A $50 million family business could be subject to a $82 million estate tax after the death of...

House Ways & Means Select Revenue Measures Subcommittee Hearing on Taxing the Wealthy

On Wednesday, May 12, the House Ways & Means Select Revenue Measures Subcommittee held a hearing titled "Funding Our Nation's Priorities: Reforming the Tax Code's Advantageous Treatment of the Wealthy." The following witnesses testified at the hearing: Adam...

BREAKING NEWS!! Bipartisan Estate Tax Rate Reduction Bill introduced in both House and Senate today!

Earlier today, Congressman Jodey Arrington (R-TX) and Congressman Henry Cuellar (D-TX) and Senator Tom Cotton (R-AR), on a bipartisan, bicameral basis, introduced the Estate Tax Rate Reduction Act of 2021. This legislation would reduce the estate, gift and generation...

Pat Soldano Speaking at LIDO LIVE Webinar May 19

Pat Soldano will be apeaking on "Family Business Economic Impact, Family Business Issues and Voter Attitudes". Family Businesses employ 59% of all workers in the US and generate 54% of GDP, (“2021 Contribution of Family Businesses to the US Economy”; Piper and...