"Lead Fin Plan Nerd", https://t.co/mQhLEvNLAj | Chief Planning Officer, Buckingham Wealth Partners | Relentless learner/educator | Dad x 3 + husband | Opinions are my own
Sep 13, 2021 • 76 tweets • 28 min read
11/
Sounds good, right? But there's a catch... This change is FANTASTIC for the uber-wealthy.
For the 'merely' affluent taxpayer though? Not so much😕
Specifically, whereas Biden's proposed top rate didn't kick in until AGI exceeded $1 million, the bill would "re-align"...
12/
..the capital gains brackets with the ordinary income tax brackets (make them start at the same $ amounts).
Great for remembering where brackets begin, but...
...it means the top cap gains bracket would start at 'just' $400k for single filers and $450k for joint filers...
Sep 13, 2021 • 11 tweets • 4 min read
1/💩-ton
(perhaps so many that I should use 2💩emojis😬)
OK, time to get this show on the road!
We now have a draft version of Subtitle I of Dems proposed legislation. And WOW is there a lot to discuss.
You might want to buckle up, b/c this is going to be a bumpy ride...
2/
...The final version of this bill isn't likely to come anywhere near the length of some more recent pieces of legislation, but Subtitle I (pictured below), which has the bulk of the tax changes most planners will be concerned with, still clocks in at over 225 pages...
