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Finseca Action Center
Deep Dive – Build Back Better Analysis
Topics: 199A, 2021 Tax Reform, BBB, Build Back Better, Business Tax, Estate tax, Finseca Action Center, Grantor trusts, Tax
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199A – Pass-through (a.k.a. Small Business) Deduction – Impact of Reconciliation Proposals Section 199(A) permits pass-through businesses such as sole proprietorships, S corporations, and partnerships to take up to a 20% deduction for qualified business income, subject to certain limitations. Currently, a pass-through business in the highest 37% bracket would pay an effective rate of…
BREAKING NEWS Tax increase details released September 13, 2021— Yesterday, Finseca got hold of a list of tax increases planned to pay for the $3.5 trillion dollar ‘soft’ infrastructure package. This is an early document. and we expect changes before the bill reaches President Biden’s desk – candidly, it could change as soon as tomorrow.…
Will Biden Tax Increases be Retroactive?
Topics: Estate tax, Finseca Action Center, investment and insurance tax, Tax Insights
From the desk of Kenneth J. Kies Managing Director, The Federal Policy Group -May 25, 2021 In general, the tax-writing committees in the U.S. Congress are not wild about retroactive taxes because they can be harmful to promoting certainty and stability for taxpayers. While the courts have allowed retroactive tax hikes as an extension of…