Tax Changes What You Should Be Thinking About

In this episode of the Hightower Bethesda podcast, Leah Jones, Director of Financial Planning for Hightower Bethesda, talks to Jeffrey Gershen, from Aronson’s Tax Services Group, about potential changes under President Joe Biden’s upcoming administration. Jeffrey is a CPA that focuses on serving business owners and specializes in tax compliance, business planning and consulting. He discusses potential changes that might be in the pipeline with Biden’s proposed plans and mentions a few concerns he’s hearing from his clients. Listen to some of the strategies he suggests to be more proactive.

 

“I hate to say it, but death and taxes are certain, and you can also add that changes in taxes are always certain. So it keeps us engaged, but again, at the end of the day, it’s about being proactive and planning as much as you can, but you have to be flexible too.” -Jeffrey Gershen [29:47]

 

What You Will Learn:

 

[1:05] The most pressing tax items that could change during the next presidency
[4:45] Top 3 concerns Jeffrey is hearing from clients
[14:08] What could change with the estate tax exemption
[20:27] Using Apple as an example
[21:13] The elimination of the long-term capital gain break
[22:09] Corporate tax rate and 1031 exchanges
[23:56] The timeframe for the Tax Act of 2017
[25:01] Some strategies to consider to be proactive
[26:47] Advice regarding the Paycheck Protection Program (PPP) loan

Our Contacts:

Website: http://bethesda.hightoweradvisors.com/

LinkedIn: https://www.linkedin.com/company/hightowerbethesda/

Facebook: https://www.facebook.com/HightowerBethesda/

Twitter: https://twitter.com/LeahPlans4You

 

Resources:

 

Visit our website: https://bethesda.hightoweradvisors.com

 

Visit Aronson’s Tax Services Group: https://aronsonllc.com