Ag CPA offers some insight into President Biden’s tax plan

Some farmers are raising concern over estate complications and the potential for tax hikes when President Biden releases his tax plan.

Ag CPA Paul Neiffer speaks with RFD-TV’s own Janet Adkison on the major increases farmers should be concerned about.

“The major tax increase from the estate side that we’re looking at is that President [Biden} and the Democrats would like to roll back the lifetime exemption, which is currently almost $12 million dollars. They want to bring it back down to probably $3.5 million dollars... estate taxes are definitely, likely, going to change.”

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