What is the Biden administration doing on capital gains taxes?
The administration has indicated an increase in the capital gains tax, from 20% to approximately 39.6%, for the nation’s highest earners might be coming. It’s a tax on the growth in value of investments incurred when individuals and corporations sell those investments. When the assets are sold, the capital gains are referred to as having been “realized.”
While it takes income of over $1 million a year to get into the highest bracket, that’s a hefty increase – for anyone.
You can get the overview from Forbes here:
Is it safe to travel to other states? What should I know about travel?
Being safe when travelling for business – or for personal time away – is more complicated today due to the pandemic. Get solid information on what’s going on state-by-state.
With travel perhaps becoming a little safer – and with a lot of pent-up demand – the travel experts at Fodors are keeping track of state-by-state travel information.
What is going on at the State Capitol? Taxes, Funding, Walz.
A few things going on:
- Wealthy Minnesotans and some corporations would see their taxes increase under a plan state House Democrats unveiled Monday, which would grant tax breaks to others and devote more money to schools and child care.
- In a virtual meeting Thursday, Minnesota’s GOP lawmakers called on House Democrats to make sure Paycheck Protection Program loans are not taxed as income by the state.