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Biden’s American Families Plan Enhances Child Care and Education, Targets Wealthy Taxpayers
Posted by Bill Smith and Nate Smith on Thu, Apr 29, 2021 @ 10:18 AM

President Biden’s $1.8 trillion American Families Plan (AFP) represents the second installment of his “Build Back Better” campaign plan, and would more prominently position the government’s role in society. While his $2.3 trillion American Jobs Plan (AJP) would finance infrastructure spending primarily through additional taxes on corporations, the AFP has “wealthy” individual taxpayers footing the bill for child care and education spending. Congress must first agree on a strategy to formalize both the AFP and the AJP in legislation before it hones in on negotiations over the provisions from these two plans. But before the prospects are explored for the AFP becoming law, an analysis of its key components is in order.

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Topics: Taxes, excess business loss limitation, American Jobs Plan, AJP, American Families Plan, Build Back Better, Step-Up in Basis, Long-Term Capital Gains, AFP

6 Tax Considerations for the Real Estate Sector under Recent COVID-19 Legislation
Posted by Chrissy Hammond on Mon, May 11, 2020 @ 12:21 PM

Tax planning may not be a priority as real estate groups respond and recover to COVID-19 pandemic disruption, but recent legislation provides some significant opportunities that are worth a closer look. Determining an appropriate strategy under these provisions to optimize income tax obligations will require careful consideration and planning. Recent legislation, including the Coronavirus Aid, Relief, and Economic Security (CARES) Act, addresses previous tax reform provisions and also creates new income tax minimization potential.

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Topics: NOLs, COVID19, Coronavirus, CARES Act, Coronavirus Aid, Relief, and Economic Security Act, payroll tax holiday, excess business loss limitation

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