ABC Zoom Webinar

The Biden Tax Plan, What Contractors Need to Know

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December 2, 2020
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Presented ByRich Shavell, Shavell & Company, P.A.
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We will discuss implications of the President-Elect’s tax proposals focusing on:

1. Passthrough Entities
2. Your personal taxes
3. Corporate Taxes
4. Your Estate Planning
5. New Tax Incentives

Recognizing these are still just proposals, we should understand and evaluate the potential impact. As we’ve heard so often, the Biden plan intends to increase income and payroll taxes on high-income individuals (over $400,000) and raise income taxes on corporations (including a new minimum tax). For certain years, tax credits are elevated to assist middle and lower-income individuals. The proposals are projected by certain groups (depending on their various macroeconomic assumptions) to increase federal revenues by $2.4 to $3.3 trillion over the next decade.

If you have any questions, please contact Jill Siegel, Alexandra Gattuso or call 954-984-0075.

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