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Monthly Archives

June 2021

Tax Deadline – What to Know for Next Year and Biden’s Taxes

We're coming up on June 15th - tax deadline after all the extensions for Texas; was May 15th if you're not in the state of Texas. What do we we expect next year? There's a lot of talk about Biden 2020, 2021. Where are we going to talk about? Obviously if you're not ready for your taxes, June the 15th, you already are aware, I'm sure, that you can extend all the way to October 15th. So what's coming up for 2021, 2022? First and foremost tax changes will be next year, not this year. So this is the year for making planning changes. Some of the plans that are in the Biden proposal: one is increase the top marginal tax rate to 39.6% from 37% for those married, filing jointly, over $509,000. Clearly for most Americans, this isn't going to make any difference whatsoever. And it's really just a...
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