{"id":4232,"date":"2021-09-28T11:12:35","date_gmt":"2021-09-28T18:12:35","guid":{"rendered":"https:\/\/familyenterpriseusa.com\/?p=4232"},"modified":"2021-09-28T11:15:06","modified_gmt":"2021-09-28T18:15:06","slug":"family-business-under-attack-what-budget-reconciliation-includes","status":"publish","type":"post","link":"https:\/\/familyenterpriseusa.com\/feusa\/family-business-under-attack-what-budget-reconciliation-includes\/","title":{"rendered":"Family Business Under Attack; What Budget Reconciliation Includes"},"content":{"rendered":"

[et_pb_section fb_built=”1″ _builder_version=”3.22″ global_colors_info=”{}”][et_pb_row _builder_version=”3.25″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”3.25″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_button button_url=”https:\/\/familyenterpriseusa.com\/polling-and-research\/stop-elimination-of-step-up-in-basis-that-could-destroy-businesses-contact-congress\/” url_new_window=”on” button_text=”Have Your Voice Heard in Congress. Please Take Action Today!!!” button_alignment=”center” admin_label=”Call to Action Button” _builder_version=”4.9.10″ _module_preset=”default” custom_button=”on” global_colors_info=”{}”][\/et_pb_button][et_pb_divider _builder_version=”4.10.1″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_divider][et_pb_text admin_label=”Content” _builder_version=”4.10.5″ text_font=”||||||||” text_font_size=”16px” background_size=”initial” background_position=”top_left” background_repeat=”repeat” global_colors_info=”{}”]<\/p>\n

Please read below and tell your member of the House and Senate what you think!!!<\/h2>\n

You must do it now as a vote could happen soon. Protect your generationally owned family business and a lifetime of savings!<\/h3>\n

Proposals included in the House Reconciliation Package that could impact family-owned businesses.\u00a0 Individual and business tax proposals of interest include, among others:<\/p>\n

    \n
  1. 25-percent long-term capital gains tax rate<\/li>\n
  2. 39.6-percent top ordinary income tax rate<\/li>\n
  3. 3-percent surtax on income over $5 million<\/li>\n
  4. Expanded application of the 3.8-percent net investment income tax<\/li>\n
  5. Extended holding period (5 years up from 3 years) for carried-interest capital gains treatment<\/li>\n
  6. Elimination of the 100-percent and 75-percent exclusion for sales of qualified business stock for those taxpayers with more than $400,000 in income<\/li>\n
  7. Limiting the 20-percent pass-through deduction to $400,000 for individuals.<\/li>\n<\/ol>\n

    With regard to estate and gift tax policies, the House bill proposes to:<\/p>\n

      \n
    1. Sunset the doubled estate tax exemption (currently $11.7 million per person) at the end of 2021 instead of at the end of 2025<\/li>\n
    2. Restrict the application of valuation discounts to \u201cnon-business assets\u201d for transfer tax purposes<\/li>\n
    3. Require grantor trusts to be included in the grantor decedent\u2019s taxable estate and treat transactions between grantor and grantor trusts as taxable transactions<\/li>\n
    4. Increase the maximum special use valuation reduction to $11.7 million for qualified real property used in farming or a closely held business.<\/li>\n<\/ol>\n

      If your members of Congress do not hear from you, this could be your new normal!<\/p>\n

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      Read the “POLICY UPDATE: Tax & Financial Services Week Ahead” from Brownstein Hyatt Farber Schreck.<\/a><\/strong><\/h3>\n

      [\/et_pb_text][et_pb_divider _builder_version=”4.10.1″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_divider][et_pb_button button_url=”https:\/\/familyenterpriseusa.com\/polling-and-research\/contact-congress-asking-them-to-sponsor-the-estate-tax-rate-reduction-act-of-2021\/” button_text=”Contact Congress Now – It Only Takes a Minute” button_alignment=”center” admin_label=”Call to Action Button” _builder_version=”4.9.10″ _module_preset=”default” custom_button=”on” global_colors_info=”{}”][\/et_pb_button][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”3.25″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”3.25″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_text admin_label=”FEUSA Statement” _builder_version=”4.8.2″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” link_option_url=”https:\/\/familyenterpriseusa.com\/donate-2\/” global_colors_info=”{}”]<\/p>\n

      \n

      Family Enterprise USA<\/a> advocates for American Family business. We help family businesses communicate their challenges and contributions to American economic freedom to Legislators. We represent all American family businesses; not just specific industries and provide research to enhance the opportunity for success. We help family businesses continue to establish their unique business legacy. Family Enterprise USA is a 501(c)(3) non-profit organization.. Family foundations can donate.<\/a><\/p>\n

      \n

      [\/et_pb_text][et_pb_button button_url=”https:\/\/familyenterpriseusa.com\/donate-2\/” button_text=”Are you an FEUSA Member? If not, get in on the movement today!” button_alignment=”center” admin_label=”Call to Action Button” _builder_version=”4.9.3″ _module_preset=”default” custom_button=”on” global_colors_info=”{}”][\/et_pb_button][et_pb_video src=”https:\/\/www.youtube.com\/watch?v=bsn5xYrxhJg” _builder_version=”4.10.5″ _module_preset=”default” hover_enabled=”0″ global_colors_info=”{}” sticky_enabled=”0″][\/et_pb_video][et_pb_text admin_label=”Hash tags & Tags” _builder_version=”4.9.10″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n

      @FamilyEnterpriseUSA @PolicyAndTaxationGroup @DitchTheEstateTax #FamilyBusiness #Business #SmallBiz #EstateTax #Deathtax #CapitalGainsTax #StepUpInBasis #Taxes #gifttax #Generationskippingtax #InheritanceTax #repealestatetax #promotefamilybusinesses #taxLegislation #AdvocatingForFamilyBusinesses #incometax #Generationallyowned #Multigenerationalbusiness<\/p>\n

      [\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":"

      Please read below and tell your member of the House and Senate what you think!!! You must do it now as a vote could happen soon. Protect your generationally owned family business and a lifetime of savings! Proposals included in the House Reconciliation Package that could impact family-owned businesses.\u00a0 Individual and business tax proposals of […]<\/p>\n","protected":false},"author":2,"featured_media":1214,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","content-type":"","footnotes":""},"categories":[77,48,3,78,76,36],"tags":[],"class_list":["post-4232","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-budget-deficit","category-family-businesses","category-feusa","category-in-the-news","category-income-taxes","category-taxes"],"acf":[],"_links":{"self":[{"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts\/4232","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4232"}],"version-history":[{"count":6,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts\/4232\/revisions"}],"predecessor-version":[{"id":4240,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts\/4232\/revisions\/4240"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/media\/1214"}],"wp:attachment":[{"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4232"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4232"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4232"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}