More than six months after President Biden outlined key tax policy proposals, taxpayers are still waiting for clarity on tax legislation. As of this writing, the administration’s Build Back Better Act (BBBA) remains on hold, as disagreements between the Democratic Party’s Centrists and Progressives stalled progress on both the tax legislation and the infrastructure bill (Infrastructure Investment and Jobs Act) which has already passed the Senate. Tax negotiations could take quite a few twists and turns over the coming weeks, although taxpayers can ponder several strategies despite current legislative uncertainty.
In 2017, investors around the world were captivated by the rise of Bitcoin, a digital currency decentralized from government intervention. At the time, Bitcoin was largely relegated as an asset for day traders (and apparently the laundry room of my wife's cousin). Fast forward to today, and interest from other investing parties has grown, predicating many questions. This research paper seeks to address Bitcoin’s merits and risks as an institutional-quality investment. Below, we seek to address Bitcoin’s merits and risks as an institutional-quality investment.
As a presidential candidate, Joe Biden laid out more than $3 trillion of tax increases to pay for an agenda ranging from expanding health care to fighting climate change. Now that the Democrats will control both houses of Congress and the White House, it’s time to focus on tax law changes they might propose. Although President-elect Joe Biden and other Democrats have proposed many changes to individual income and payroll taxes, business income taxes and individual transfer taxes, we’ll limit this commentary to those changes that would be most likely to affect our clients and are attributable to President-elect Biden.