To the surprise of no one, our current political leadership is currently discussing the first federal income tax increase since 1993. Some of the key talking points are increasing the top marginal tax rate  by nearly 3%, from 37% 39.6%, and particularly targeting those with incomes of $400,000 or more. Also on the table are raising the corporate tax rate from 21% to 28%. What hasn’t been explicitly discussed – yet – is the Estate Tax Exemption of $11.7 Million (per person) for 2021, but there are indications that revisiting the exemption amount and corresponding tax rate are on the agenda.

In this episode, Will Steih and Josh Null discuss how these political and tax policy decisions filter down to impact business owners and high-income earners along the Gulf Coast.

If you would like to continue the conversation with Josh and Will, make an appointment on our website at https://gulfcoastfa.com/, or feel free to call 251-327-2124 or email [email protected].