We are all waiting to see what changes in the tax code as President Biden’s tax proposals work their way through Congress. Potential tax hikes in the future do present us with additional uncertainty in year-end planning. But with current tax rates below long-term averages, it may be wise to go into 2022 expecting that tax rates could go higher.

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With record-breaking stimulus injected into the economy both this year and last, alongside the stated priorities of the Biden Administration, it’s likely we’ll be seeing some changes to tax policy sometime this term. Read more.