The Mind Money Spectrum Podcast
Graystone Advisor, LLC is a registered investment adviser offering advisory services in the State of California and in other jurisdictions where exempt from registration.
Investing Forever LLC (d/b/a, Investing Forever Advisory) is a registered investment adviser offering advisory services in the State of Florida and in other jurisdictions where exempted.
The Mind Money Spectrum Podcast
#67. If you are in this lucky minority, the Biden Tax Plan will burn you.
In this episode, Aaron and Trishul go through President Biden's tax plan, which could be enacted with a Democrat-controlled Congress. Increasing income, corporate, and long-term capital gains taxes; eliminating the step-up in basis; and reducing estate tax exemptions may seem monumental, but likely, these changes will only affect about 1% of us. Even so, some of Biden's other proposals could lower taxes for the wider population, such as a new retirement account contribution credit, and increased credits for children and dependents. Nothing is set in stone yet, but knowing what may come can still allow you to better prepare for the future.
Episode References
MMS #32. These estate planning tips can save you big time.
MMS #37. How to get rich and never pay a dollar in taxes.
Kitces.com: Biden Tax Plan
Slide Deck: Biden Tax Plan
Income Percentile Calculator
Net Worth Percentile Calculator
Kitces.com: Marginal Tax Rates
MAGI
Section 1202
IRAs Payable to Trusts
Fidelity: Taxes Post Election
Managing Concentrated Stock Wealth by Tim Kochis
How did the TCJA change business taxes?
Why Amazon Pays No Corporate Taxes
Podcast Description
Welcome to The Mind Money Spectrum Podcast where your hosts Aaron Agte and Trishul Patel go beyond traditional finance questions to help you explore how to use your money to achieve the freedom you want in life. Aaron is a Financial Planner from the Bay Area, and Trishul is a Wealth Manager on the East Coast. For more information about Aaron, check out GraystoneAdvisor.com. And for more information on Trishul check out InvestingForever.com. We thank you all for listening, and stay tuned for our latest episode on our website, MindMoneySpectrum.com.
Aaron Agte and Trishul Patel go beyond traditional finance questions to help you explore how to use your money to achieve the freedom you want in life. Aaron is a Bay Area Financial Planner with GraystoneAdvisor.com, and Trishul is an East Coast Wealth Manager (InvestingForever.com). MindMoneySpectrum.com and YouTube.
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