Cut and Dried Wealth Managers Face Tough Financial Planning Challenges Starting 2021

Wealth managers handling the business assets of individuals with high and ultra high net worth, will face new challenges starting this tax year 2021 and onwards. Aside from tax policy changes being proposed by the Biden administration, a new bill aimed at changing the IRS’ audit behavior toward the tax returns of wealthy taxpayers will also be introduced. Given that Democratic party lawmakers now have the majority numbers in both lower and upper houses of Congress, all bills proposing such tax policy changes will likely be enacted. Now more than ever, choosing the right financial advisor to handle one’s tax …

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Sen. Warren to Continue Pushing for Wealth Tax as Member of Senate Finance Committee

Despite not winning the Democratic presidential nomination, Sen. Elizabeth Warren says she will still push for her radical campaign calls for Wealth Tax. Last Tuesday, February 02, Senator Warren confirmed that she will soon be joining the Senate Finance Committee. The committee membership is considered a choice assignment since she will have greater ability to push for a tax legislation that will impose levy on amassed wealth amounting to more than $50 million. In fact her announcement served as an ominous warning to the super rich, saying that introducing a WealthTax will her first order of business. During President Biden’s …

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Trump and Biden Raising Funds for Election Lawsuits but with a Difference

As Trump insists he won the presidential election, his campaign team is raising funds to finance the legal costs of proving he lost due to election fraud. Trump supporters have been receiving emails in which donations are being solicited to financially support the filing of lawsuits filed in several stated to prove Trump won the presidency. Some Republican voters who received such emails spoke to the press people but on conditions of anonymity. While the emails gave estimates that the anticipated legal costs will amount to as much as $60 to $100 million, the donation page revealed additional information that …

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