The consumer price index has risen 6.2% this year, the biggest hike in over three decades. While the IRS has adjusted some measures in response to inflation, others remained unchanged, spelling a tough year for taxpayers.
As the Build Back Better package moves through Congress – representing the biggest expansion of the social safety net in the U.S. since the 1960s – super high net worth individuals are looking at options to minimize the impact of proposed new taxes.
As Build Back Better heads to the Senate, several previously considered tax increases have been left out of the package – including any changes to like-kind exchanges, increases in the ordinary income tax rates, the general 20 percent capital gains tax rate, the tax treatment of carried interest, the 20 percent pass-through deduction, and the taxation of unrealized capital gains at death.
As ever, we’re on hand to assist with any of your commercial real estate appraisal needs. On behalf of our team of local market experts, thank you for the opportunity to serve you! You can reach us by phone at (626) 486-9327, or email email@example.com for assistance.
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