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Biden Tax Policy

Nov 19, 2021
Biden Tax Policy
Global Wealth Advisors Round Logo
Global Wealth Advisors Financial Planning and Wealth Management

One of the topics that is likely on most people’s minds these days is the Biden tax policy. In this episode of 𝙔𝙤𝙪𝙧 𝙈𝙤𝙣𝙚𝙮 𝙈𝙤𝙢𝙚𝙣𝙩𝙪𝙢, CERTIFIED FINANCIAL PLANNER Professional Tom Kennedy hosts MFS Investments’ Vice President and Business Development Consultant Doug Orton. In this session, they dissect Biden’s tax policy and how it might affect the corporate tax rate, individual income tax, and Roth conversions. They also cover some of the ways taxpayers and retirees can prepare for any potential changes.

Guest Bio: Doug Orton

Doug is a Vice President and Business Development Consultant with MFS Investments. With 28 years of financial services industry experience, his focus has grown from retirement income plans and how to draw income in retirement, toward mitigating tax liability. He holds a Bachelor of Science in Psychology from Colorado College.

Host Bio: Tom Kennedy, CFP®

Tom joined Global Wealth Advisors (GWA) in our Houston, Texas office in 2018 and became a managing partner in 2021.  With over a dozen years of experience, he serves as our host of Your Money Momentum, a GWA podcast on financially related topics.  He also serves as host of the Ask Tom Anything Facebook page, a GWA program sharing video updates, commentary on hot topics, and fielding questions.

Tom graduated from the University of Colorado at Boulder with a Bachelor of Science in Finance and holds the CERTIFIED FINANCIAL PLANNER certification which is awarded by the Certified Financial Planner Board of Standards, Inc.  He also earned the Climate Change and Investment Academy Certificate through a partnership between Columbia University’s Earth Institute and Alliance Bernstein, and FINRA Series 6, 7, 63 and 66 securities registrations with Commonwealth Financial Network®, Member FINRA/SIPC, a Registered Investment Advisor.

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3:15        Trump’s tax policy changes
4:18        SALT deductions
7:15        Corporate tax rate
8:20        Individual income tax rate
9:10        Capital gains tax rate
11:30      Roth changes
14:10      Process for passing tax law
16:32      How quickly will law be implemented
18:50      What will impact the average taxpayer
20:10      Some steps to prepare for taxes
27:20      Places to find information on tax law

Listen in to Your Money Momentum published every other Friday, just in time for your morning commute.

Music: PWISBYRuff

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