 
The House Ways and Means Committee recently released a summary of proposed tax changes intended to help fund the $3.5 trillion spending package. Although this has not yet been passed, we would expect that much of what has been proposed may make it into the final bill.
Who will be impacted?
Corporations and high-income earners ($400k+) will be affected the most from these proposed changes.
Highlights
We have dissected the proposal and assembled a few highlights:
- Tax increases for businesses, in particular S Corporations
- Estate and Gift Tax exclusions cut by about one-half
- Retirement Plan Limitations for High-Income Individuals
More Details
What Can You Do?
At this point, these are only proposals so it is tough to make any decisions without knowing for sure what will pass. However, based on when these changes take effect, it is important to do some planning before year end. Simply reply to this email or call the office today, to schedule a meeting.
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BROUGHT TO YOU BY:
Kevin Forootan, CPA/CGMA
Partner – Woodland Hills, Beverly Hills
DK Wealth Management LLC
21600 Oxnard Street, Suite 2000
Woodland Hills, CA 91367
Tel 818-385-0585
Livia Benjamin, CPA
Principal Partner – La Jolla
DK Wealth Management LLC
4225 Executive Square, Suite 900
La Jolla, CA 92037
Tel 858-642-5050
Kristopher Lindley, CFP®
Financial Consultant
DK Wealth Management LLC
12555 High Bluff Drive, Suite 210
San Diego, CA 92130
Tel 619-550-4619
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DK Wealth Management LLC | La Jolla | University Heights | Woodland Hills | Beverly Hills
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