Joe Biden’s tax plan, which includes provisions to raise corporate taxes and eliminate incentives that allow companies to move profits overseas means many corporations and individuals will be searching for tax shelters in order to avoid larger tax consequences. This overhaul of the tax code impacts corporations, employees, industries, and all taxpayers. This is why tax planning has never been more important. At White Sands Tax Solutions we assist businesses and individuals with their tax strategies to help minimize the consequences of increased taxes.
Below is a List of Biden’s Economic Plan:
- Increasing the corporate tax rate from 21% to 28%
- Increasing the global minimum tax from 10.5% to 21%
- Raising individual income taxes for those earning more than $400,000 a year, from 37% to 39.6%
- Expanding the estate tax which could mean a levy of up to 40%.
- Raising the capital gains tax for those earning at least $1 million annually
- Eliminating tax advantages for certain types of business
Other items in his platform include raising taxes on foreign profits and ending real estate loopholes. White Sands Tax Solutions will continue to monitor and update you as soon as new information becomes available.
Tax Shelters and Tax Planning – White Sands Tax Solutions
At White Sands, we embrace technology and contactless service while focusing on being personable and available for all your tax needs. We are invested in creating a positive relationship with our clients and providing exceptional service in a modern business environment. We serve both personal financial needs and your business financial needs. We are also available for foreign investors and help people moving into the United States.
At White Sands Tax Solutions our services include:
- Personal Tax Services
- Business Tax Services
- International Tax Solutions
Give us a call with your tax questions or set up an appointment to address your tax concerns. Spend more time enjoying your life and less on your taxes – call White Sands Tax Solutions Today!
White Sands Tax Solutions Serves All of Sarasota & Charlotte County
Charlotte Harbor, Charlotte Park, Cleveland, Grove City, Harbour Heights, Manasota Key, Punta Gorda, Port Charlotte, Rotonda, Solana
Bee Ridge, Desoto Lakes, Englewood, Fruitville, Gulf Gate Estates, Kensington Park, Lake Sarasota, Laurel, Longboat Key, Nokomis, North Port, North Sarasota, Osprey, Plantation, Ridge Wood Heights, Sarasota, Sarasota Springs, Siesta Key, South Gate Ridge, South Sarasota, South Venice, Southgate, The Meadows, Vamo, Venice, Venice Gardens, Warm Mineral Springs