Biden’s Tax Proposals
1. Increased individual tax rate for individual taxpayers with income above $400,000
2. Increased capital gains rate for those with income over $1,000,000
3. Repeal of SALT deduction
4. Death as taxable event
5. Limitations on itemized deductions
6. Phaseout of QBI deduction
7. Payroll tax increase for taxpayers with earnings above $400,000
8. Increased corporate tax rate
9. Repeal of like kind exchanges
10. Tax on unrealized gains
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