Recently proposed federal legislation including President Biden's American Families Plan and Senator Bernie Sanders' For the 99.5% Act has prompted questions and confusion among Americans. Both proposals could bring significant changes to the existing tax and estate laws and you may be wondering how it affects your financial situation.

In our upcoming webinar on Tuesday, June 8th at 1pm PST, we’ll discuss the recently proposed changes and tax planning strategies you can consider implementing now.

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One of the proposed tax changes in Biden’s American Families Plan is to increase long-term capital gains and qualified dividend rates to ordinary income for households earning more than $1 million a year. Essentially, tax rates will increase from 20% to the proposed 39.6%* under Biden’s plan.

If you choose to, there are a few ways you can potentially mitigate your tax bill. Depending on your situation, you may consider realizing any long-term capital gains in 2021, reducing positions in investments that pay out large qualified dividends and capital gains, and utilizing tax-efficient investments where practical. To learn more, join us on Tuesday, June 8th at 1pm PST.

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For our attendees in Washington State, we will also address the Washington Cares Fund and Washington's Capital Gain Tax.

For additional resources on the proposed federal legislation, check out the President Biden’s American Families Plan Summary or For the 99.5% Act Summary.


*this is assuming household is subject to the highest income bracket. This webinar should not be relied upon for tax advice or recommendations.  Please consult your personal tax advisor regarding your specific situation.