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Reply to "Biden tax proposals - MFJ"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Ehh, if he raises taxes for over $400k, I’ll just put the excess in my deferred comp plan and take it out at lower rates during early retirement.[/quote] He's proposed capping deductions at 28% across the board, including deferred comp plans/db plans, and even charitable deductions. It's an incredibly progressive proposal. My guess is it will pass but charitable deductions may not have a cap.[/quote] Link? I’ve seen the proposal to bring back the pease limitation, but nonqualified deferred comp plans were never subject to that (and also are not a above or below the line deduction).[/quote] I havent seen new talk on the 28%; but there was lots of chatter on that in the obama era: https://www.wsj.com/articles/SB10001424127887323916304578402952175617808[/quote]
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