Robert Lloyd, CFA
Just In Case You Forgot: Your Taxes Are Going Higher
Just in case you forgot, our taxes are probably going higher. We don't hear much about this in the news, but here our take on the major proposals. You should probably plan for a worst case with these proposals. Sen Manchin is asking that the $3.5 trillion stimulus be "paid" for. That can mean only one thing.
We are not accountants and don’t provide tax advice. However, as investment advisers, I must warn you that a plan to raise long term capital gains rates may incentivize taxable investors to sell before 2022 to recognize gains in a lower tax year. This will depend on the wording of the law and whether it is a retroactive tax that applies to all of calendar 2021. I expect we will start hearing about the proposals by September.
Robert Lloyd, CFA®
Chief Investment Officer
Lloyds Intrepid Wealth Management
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