083. What Biden's Tax Proposals Mean for Your Investments and Income | Austin Prevost

May 21, 2024

14:44

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► https://taxstrategy365.com/pod-app

In this episode of the LearnLikeaCPA Podcast, Ryan Bakke and Austin discuss President Biden’s proposed tax increases and their potential impacts. Dive into the details as they explore significant changes to tax policy and their effects on investors and the economy, like:

- Proposed capital gains tax hike from 20% to 44.6%

- Increase of the highest marginal tax bracket to nearly 40%

- Doubling of Medicare taxes for individuals earning over $400k

- Potential elimination of the 1031 exchange and its ramifications on real estate

- Discussion on the broader economic and middle-class implications from these proposed tax changes

Timestamps:

00:00 Intro

00:27 How capital gains may face 48-49% taxes.

05:10 Why real estate investors hesitate to sell assets.

08:58 How the government limits investor loans to boost housing affordability.

10:14 The uncertainty about future tax.

13:33 The intrinsic nature of real estate.