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Inauguration Day Is Coming: What Financial Challenges Could High Earners Face During the Biden Administration?

January 4, 2021/in Economy, Election, Financial Planning, Tax Management, Taxes /by admin

With one of the most contentious elections in history behind us, President-elect Joseph R. Biden, Jr. is set to take office on January 20. In anticipation of a new administration, high earners especially are left wondering – how will the Biden presidency affect me financially? Until Biden takes office and begins enacting changes, we won’t know for sure what to expect. But based on his official campaign platform, past interviews and projections, we can better prepare ourselves for the potential changes to come.

Now that Inauguration Day is on the horizon, what challenges could this bring to high earners during a Biden administration?

Most CARES Act Benefits Are Ending on Dec. 31st. Are You Prepared?

November 30, 2020/in Economy, Financial Planning, Tax Management, Taxes /by admin

The CARES Act was passed on March 27, 2020 amidst the onset of COVID-19 in America. The package included over $2 trillion in economic relief for businesses, workers, families and governments.¹

Now, the year is almost over – and some benefits included in the CARES Act are expiring. Many Americans have relied on these benefits to make ends meet throughout the course of the pandemic, and there’s widespread uncertainty about benefits coming in the future.

Biden Has Won the Presidential Election: Here are the Tax Changes You Should Prepare For

November 9, 2020/in Economy, Election, Financial Planning, Healthcare Costs, Tax Management, Taxes /by admin

First-Ever Wealth Tax Proposed in California: What California Residents Need to Know

October 10, 2020/in Economy, Taxes /by admin

As a Californian, you’re no stranger to high taxes. In fact, California comes in at number one for the country’s highest income tax – 13.3 percent.¹ And if you’re a high earner, you could be subject to an even bigger tax hit soon with the country’s first proposed wealth tax.