Brace for Economic and Tax Uncertainty After the 2020 Election
No matter who wins, talk to advisors and CPAs about planning and preparation.
The next six months will bring a period of uncertainty. Businesses and individuals must plan to react to the many changes in taxes, stimulus plans, Covid-19 disruptions, tax laws, estate laws, and other laws and regulations based on 2020 election results. This article should not serve as legal advice – companies should plan to consult with attorneys, CPAs, investment advisors, insurance advisors, and others. Regardless of the election results, there will be big changes. Sources of systemic change include:
- Tax Proposals: Income and Capital Gain
- Estate Planning
- Accelerating or Deferring Incomes or Deductions
- The Wider Economy
- State and Local Tax (SALT)
- Health Insurance
- Planning for Increased Economic Activity
- PPP Loan Forgiveness
Click below to access our comprehensive analysis on taxes and the economic landscape following the 2020 election.