Yet another tax proposal has been released as the House struggles to reach a compromise amidst Biden's economic agenda. Here are some updates from the newest proposal including: income taxes, capital gains, estate taxes, Roth conversions, and more.

The Biden Administration has proposed several tax law adjustments. With a Democratic sweep, we can expect many of these changes to take place. These include potential increased corporate tax rates, lowered estate tax exemptions, elimination of Step-Up in basis, capital gains tax rates, and more. Be watchful of changes and adjust your estate plan and investing goals accordingly. This could be one of the most important planning years ever!