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Reply to "Biden tax proposals - MFJ"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I haven’t been able to find any clarity on the income thresholds for MFJ. I see he is targeting $400k for individuals but what about MFJ? In a perfect world it would be 800k MFJ but I highly doubt that occurs. Has anyone been able to find any data on this? [/quote] It’s 400k for households. I suggest you move to Monte Carlo [/quote] Not according to Bloomberg - this specifically says INDIVIDUALS, not Households: https://www.bloomberg.com/news/articles/2021-03-15/biden-eyes-first-major-tax-hike-since-1993-in-next-economic-plan The following are among proposals currently planned or under consideration, according to the people, who asked not to be named as the discussions are private: Raising the corporate tax rate to 28% from 21% Paring back tax preferences for so-called pass-through businesses, such as limited-liability companies or partnerships Raising the income tax rate on individuals earning more than $400,000 Expanding the estate tax’s reach A higher capital-gains tax rate for individuals earning at least $1 million annually. (Biden on the campaign trail proposed applying income-tax rates, which would be higher) Now obviously nothing is given until we see actual language, and then how it's going to actually get done. [/quote]
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