Capital gains taxes

Even with a 15-year window to pay taxes, a near-doubling of the capital gains rate and the elimination of the step-up in basis loophole will make a sale expensive.

"Inheritors are going to get killed" under the White House’s proposal to put the brakes on tax-free intergenerational transfers of wealth.

The proposal includes a call for a surprise retroactive hike in the capital gains tax.

The Biden administration’s proposal to dramatically expand the inheritance tax bill for wealthy Americans is running into some headwinds with Democrats on Capitol Hill, showcasing nervousness about the scope and size of elements of the White House’s ambitious tax plans.

President Biden releases his annual budget on May 27, a move likely to detail his plans to increase the capital gains tax rate and eliminate a lucrative benefit for inherited estates.

Three Democratic senators introduced legislation that would stop the tax breaks used by private equity money managers and others.

Affluent clients can use wealth and retirement strategies to blunt the impact of the administration’s proposals, which include a higher capital gains rate.

The Senate Republican leader ripped the president's plan to end a tax break that lets the richest Americans transfer much of their wealth tax-free at death.

With the tax recognition deadline of Dec. 31, 2026, still in place, taxpayers who wish to invest unrecognized gains in QOZs need to do so prior to Dec. 31, 2021, in order to obtain any step-up in basis benefit.

Biden administration proposals could radically reshape how wealthy Americans are taxed.