2021 Retirement, Taxes, and Strategies Under the New Administration

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As we’ve entered the Biden administration recently, some Americans might soon see differences in saving for retirement, increase in tax rates, and different strategies minimized or diminished. Planning for these potential changes is more crucial than ever.

Some of the proposed changes include benefits for defined contribution plans, increasing Social Security payroll tax, and increasing taxes for individuals earning more than $400,000. Attendees will learn what those proposals look like and it will affect their clients.

Learning Objectives:

  • Overview of the Biden tax plan according to his website and throughout his campaigning
  • Changes to the Tax Cuts and Jobs Act
  • Social Security and Estate taxes
  • Securing a Strong Retirement Act of 2020 (or “SECURE Act 2.0”)
  • Strategies to use with your clients going forward