New Strategies Needed For Obama Tax Plan?

President Barack Obama has unveiled a new tax plan that tax experts say may require new strategies in response.

On Jan 17, the president introduced a revamp of the tax code that would bump up capital gains and dividends rates to 28 percent. It would also impose a capital gains tax on beneficiaries for inherited assets that have have appreciated in value and would block contributions in qualified IRAs once balances hit $3.4 million, says a story on

The article says the proposal is unlikely to pass in its current condition, but suggests it shows where legislation could go in the future.

A wealth protection expert quoted in the story said that charitable giving, donor-advised funds and charitable remainder trusts will likely be the tools that high-net worth individuals use to counter these new proposals.

Leave a Reply

Your email address will not be published. Required fields are marked *