The election day, November 3, comes knocking at our doors, and there are many questions and disputes regarding this event. Most of them refer to taxes. We are acutely aware of what Democratic candidate Biden plans to do when it comes to taxes.
If elected and “his” lawmakers are also elected to Congress, he will want to raise taxes for certain people (the wealthy). According to his overall tax plan, he will not maximize taxes on those who make less than $400,000/year.
So far, so good. But there are some tricky parts we should understand. For instance, if he increases business taxes, employment taxes will most likely rise too.
So, even if you’re not one of those millionaires who will not escape Biden’s tax decisions, don’t assume that everything will be okay for you and your family. You might find yourself in one of these six situations. Read on to discover them!