Eliminating the Step-Up in Basis?

The step-up in basis has allowed many to pass property and businesses down to the next generation without being taxed on any appreciated value. However, President Biden’s proposed tax plan threatens to remove this provision, which could impact the financial legacy many Americans have worked hard to build.

In this episode of Wealth Talks, Tom and John discuss the implications of removing the step-up in basis and share strategies on how to prepare and still leave a lasting financial legacy.

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