Be Ready for Big Changes: 2021 Tax Planning
Some fear that these tax increases will be retroactive to January 1, 2021, which is certainly possible. The last time a significant tax increase was enacted retroactively was in August 1993. The year 2020 was one like no other, and thus far into 2021, the 2020 mantra “expect the unexpected” has continued. The election cycle of 2020 finally ended on January 5, 2021 with the Georgia runoff elections with Democrats wining both Senate seats. As a result, President Biden will h
