The American Families Plan will bring changes that may effect how you invest. Be cautious this year with how you manage your assets. You don’t want to make any drastic changes until this new law is set in stone.
- Top marginal rate increase to 39.6%
- Top capital gains rate on long term gains for those making over $1 million will be 39.6% plus 3.8% Medicare for a total of 43.4%
- Step up basis eliminated on inherited assets over $1 million