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A Look Into Biden’s 100-Day Tax Plan Initiatives
January 27, 2021
Following the presidential inauguration on January 20, 2021, Ron Wainwright, Tax Partner and Sarah McGregor, Tax Director, took to the waves to discuss President Biden’s initial tax plans for the first 100 days and look back at proposals from his campaign. During this week’s podcast, Ron Wainwright and Sarah McGregor discussed planning opportunities for both businesses and individuals as they examined the tax proposals for changes in business tax rates and possible individual taxes changes, including changes to the corporate tax rate, itemized deductions, and limitations to small business deductions.
Other key initiatives are discussed as well, such as Coronavirus relief, clean energy production (renewable and alternative energy sources), Made in America supply chain incentives, new infrastructure projects, enhanced and extending Opportunity Zone benefits and New Markets Tax Credits and assisting small business with credits, incentives and financing.