1031 exchange is a tax deferral strategy that allows real estate investors to defer taxes when they exchange one investment property for another. Thus, giving investors an opportunity to save cash and strategically grow their investment portfolio. The Biden Administration proposed a tax law that would eliminate this tax deferral strategy for capital gains over…

UPDATE: On September 13th, the House Ways And Means Committee released a legislative draft altering the tax proposals set forth in the American Families Plan outlined in this post. Click here to learn about these changes. President Biden’s proposed American Families Plan would make significant changes including a capital gains tax rate increase, elimination step-up…

The American Rescue Plan Act of 2021 significantly increases the Child Tax Credit (CTC) for one year to help families impacted by the pandemic. Millions of eligible families will receive a CTC of $3,000 to $3,600 for each child. Additionally, half of the credit will be paid in advance. On July 15th, the IRS will…

For many families, a huge concern is finding a way to pay for their children’s college education. Especially, with the climbing cost of higher education. According to the College Board’s Trends in College Pricing and Student Aid 2020 report, the average cost of tuition in 2020-2021 was $37,650 in private colleges, $10,560 at public colleges, and $27,020 at…