At this time of recording, Biden has proposed several tax changes. I repeat, these are proposed tax changes. Some of them include: the top individual income tax rate would go from thirty-seven percent to 39.6% percent, that's the pre-2018 income tax rate increase. The federal corporate tax rate from 21% to 28%. Elimination of capital gains tax preferences. It would tax long-term capital gains and qualified dividends at the ordinary income tax rate of 39.6%. For individuals with income above a million dollars, the maximum child and dependent tax credit would rise from three thousand dollars to eight thousand dollars sixteen thousand for more than one dependent. Once again, I want to remind you that these are only proposals and may change by the time you're watching this. Philip L. Liberatore, CPA remains committed to providing you with important information that pertains to your success. Learn more here: https://www.liberatorecpa.com/