Tax and Wealth Advisor Blog

Tax and Wealth Advisor Alert: President Trump’s Budget Proposal Extends the TCJA Tax Cuts

President Trump unveiled a budget proposal for the 2021 fiscal year. Of note, the income tax and estate tax cuts provided in the Tax Cut and Jobs Act of 2017 which are scheduled to expire on January 1, 2026, are being extended in this proposal to 2035. This includes the increased estate tax exemption of $11 million per person, plus annual cost of living increases. It remains to be seen how Congress will respond to this proposal.

Published by
ONeil Cannon

Recent Posts

Spring Cleaning for Your Business: Consider Your Document Retention Practices

Spring is the season for cleaning and organization—and it can also be a good time…

2 weeks ago

Wisconsin Incentivizes “Closing Credits” by Opening New Tax Credits for Filmmakers

A significant development to Wisconsin’s economic and cultural policy is now underway, as Governor Tony…

4 weeks ago

O’Neil Cannon Adds Four Shareholders

O’Neil Cannon is pleased to announce that Christina Ruud, Cate Heerey, Nancy Wilson, and Max…

1 month ago

O’Neil Cannon Welcomes Attorney Sabrina Dornan

O’Neil Cannon is pleased to announce that Sabrina Dornan has joined the firm. Dornan focuses…

1 month ago

Grant Killoran Elected Wisconsin State Bar Delegate to the American Bar Association

Grant Killoran was recently elected to serve as the Wisconsin State Delegate to the American…

2 months ago

O’Neil Cannon Attorneys Recognized as Benchmark Litigation Stars

O’Neil Cannon is proud to announce that attorneys Doug Dehler, Grant Killoran, Dean Laing, Greg…

2 months ago