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Post-Election Tax Planning

VIEW SPECIAL REPORT (PDF)

SUMMARY

While tax proposals during an election year are a common differentiator between candidates, any actual tax laws that take effect—and when they take effect—are unknown until the real work of the legislature begins. Our country currently faces several significant issues that offer competing priorities for legislative changes and tax dollars, including effects of the pandemic, personal and business losses for many, and even ongoing infrastructure needs. This planning update provides an overview of potential changes in context of both how they may or may not become reality and the importance of your unique situation. As always, we encourage you to talk to your tax advisor as soon as possible to consider various scenarios and make decisions based on your long-term goals.